Project 541

Analysis

Project 541 is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in April 2014, 12 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 December 2023, Project 541 reported income of $100k and spending of $111k, spending 111% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $117k to $100k (-15%), an average of -15% a year. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project 541 sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 36th percentile within TN. Charities of a similar size with the same main cause include Country Kids Food Pantry Inc ($100k), Corvino Foundation Inc ($100k) and MTN View Family Youth Center ($100k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $39k against liabilities of $0, net assets of $39k.