Project 58-10 Inc

Analysis

Project 58-10 Inc is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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, Project 58-10 Inc reported income of $131k and spending of $164k, spending 125% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $154k to $131k (-15%), an average of -15% a year. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project 58-10 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 44th percentile, and in the 44th percentile within KY. Charities of a similar size with the same main cause include California Portsmouth Squareassociation ($131k), Waves of Compassion Foundation ($131k) and Samehere Global Inc ($131k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $96k against liabilities of $0, net assets of $96k.