Proveg International Incorporated

Analysis

Proveg International Incorporated is a registered charity in United States, based in Pittsfield, MA. It received its IRS tax-exemption ruling in May 2016, 10 years ago. 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, Proveg International Incorporated reported income of $8.2m and spending of $4.3m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $8.2m (+202%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 69%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Proveg International Incorporated sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Fort George Community Services Inc ($8.2m), Wishek Home for the Aged ($8.2m) and Central Yeshiva Tomchei Timimim Lubavitz of the U S a ($8.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $83k (1.9% of expenses). Other salaries and wages came to $411k. It paid $9,000 in professional fundraising fees. At year end it held assets of $9.9m against liabilities of $222k, net assets of $9.7m. It reported 11 employees.