Praxis Inc

Analysis

Praxis Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2012, 14 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 September 2023, Praxis Inc reported income of $6.9m and spending of $6.5m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.1m to $6.9m (+68%), an average of +14% a year. The sharpest change came in the year to September 2022, when income rose by 34%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Praxis Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Jewish Community Center of ($6.9m), Anchor Ridge ($6.9m) and Ransomed Heart Ministries ($6.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $1.1m (17% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $4.5m against liabilities of $974k, net assets of $3.6m. It reported 20 employees.