Vasco Da Gama Portuguese American Charitable Society Inc

Analysis

Vasco Da Gama Portuguese American Charitable Society Inc is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Vasco Da Gama Portuguese American Charitable Society Inc reported income of $110k and spending of $121k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $89k to $110k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 160%. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Vasco Da Gama Portuguese American Charitable Society Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 35th percentile within RI. Charities of a similar size with the same main cause include Nevada Music Educators Association ($110k), Palatine High Pirate Booster Club ($110k) and Arthur D Shaw Memorial Fund Inc ($110k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 53% of the total. At year end it held assets of $1.1m against liabilities of $260, net assets of $1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.