Rugiero Promise Foundation

Analysis

Rugiero Promise Foundation is a registered charity in United States, based in Dearborn, MI. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Rugiero Promise Foundation reported income of $288k and spending of $286k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $155k to $288k (+85%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 307%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rugiero Promise Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within MI. Charities of a similar size with the same main cause include Society of Bluffton Artists Inc ($288k), Jackson Art Center ($288k) and Pioneer Winter Collective Inc ($288k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% of the total. At year end it held assets of $124k against liabilities of $0, net assets of $124k.