Promise Community Development Inc

Analysis

Promise Community Development Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in June 2020, 6 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 2021, Promise Community Development Inc reported income of $256k and spending of $248k, spending 97% of its income. Across the 4 years on record, from December 2018 to December 2021, income fell from $294k to $256k (-13%), an average of -4.6% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promise Community Development Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within KY. Charities of a similar size with the same main cause include Volunteer Interfaith Caregivers Southwest ($256k), Kids-N-Kare Day Care Center ($256k) and In His Name-Colleton ($256k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 46% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $44k (18% of expenses). At year end it held assets of $56k against liabilities of $4,197, net assets of $52k. It reported 9 employees.