Promys Foundation

Analysis

Promys Foundation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Promys Foundation reported income of $978k and spending of $494k, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $435k to $978k (+125%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 98%. Over the whole period it spent 54% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Promys Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include Cajal Academy Inc ($978k), Chetek Weyerhaeuser Scholarship Foundation Inc ($978k) and Oliver Wolcott Library Inc ($977k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m.