Propel Network Inc

Analysis

Propel Network Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover employment, 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 December 2023, Propel Network Inc reported income of $295k and spending of $689k, spending 234% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $743k to $295k (-60%), an average of -21% a year. The sharpest change came in the year to December 2022, when income rose by 103%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Propel Network Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Louisville Asset Building Coalition Inc ($294k), Womans Club of Stuart Inc ($295k) and Grace Urban Development Corporation ($294k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $156k (23% of expenses). Other salaries and wages came to $16k. At year end it held assets of $828k against liabilities of $0, net assets of $828k. It reported 3 employees.