The Project of the Quad Cities

Analysis

The Project of the Quad Cities is a registered charity in United States, based in Moline, IL. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, The Project of the Quad Cities reported income of $10.3m and spending of $10.2m, spending 99% of its income. Across the 5 years on record, from June 2019 to March 2023, income grew from $4.9m to $10.3m (+108%), an average of +20% a year. The sharpest change came in the year to March 2022, when income rose by 43%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Project of the Quad Cities sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Masschallenge ($10.3m), Nashville District Management Corporation Inc ($10.3m) and Southern Oregon Aspire Inc ($10.3m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $278k (2.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $3.1m against liabilities of $650k, net assets of $2.5m. It reported 51 employees.