Project 658 Inc

Analysis

Project 658 Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in October 2013, 13 years ago. Its declared purposes cover human services, 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 June 2023, Project 658 Inc reported income of $5.6m and spending of $4.1m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $5.6m (+209%), an average of +33% a year. The sharpest change came in the year to June 2023, when income rose by 72%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project 658 Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Edward C Mazique Parent Child Center Inc of the District of Colu ($5.6m), Newton Center ($5.6m) and Dreamtree Project Inc ($5.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 9.3% of the total. Other salaries and wages came to $2.0m. At year end it held assets of $4.4m against liabilities of $1.3m, net assets of $3.2m. It reported 52 employees.