Progress North Carolina

Analysis

Progress North Carolina is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in May 2014, 12 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 December 2022, Progress North Carolina reported income of $752k and spending of $921k, spending 123% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income grew from $289k to $752k (+160%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 1338%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Progress North Carolina sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Fairfield Industries Inc ($751k), Lean Rocket Lab ($752k) and Lone Star Region Volleyball Association Inc ($751k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $26k against liabilities of $3,683, net assets of $22k.