Promise Neighborhoods of Lehigh Valley

Analysis

Promise Neighborhoods of Lehigh Valley is a registered charity in United States, based in Allentown, PA. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Promise Neighborhoods of Lehigh Valley reported income of $2.1m and spending of $1.7m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $372k to $2.1m (+458%), an average of +54% a year. The sharpest change came in the year to June 2023, when income rose by 151%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Promise Neighborhoods of Lehigh Valley sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include 60-86 Madison Avenue District Management Association Inc ($2.1m), Jfflabs Inc ($2.1m) and Arizona Hispanic Chamber of Commerce Foundation Corporation ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $117k (6.9% of expenses). Other salaries and wages came to $479k. At year end it held assets of $926k against liabilities of $401k, net assets of $526k. It reported 16 employees.