The Transformation Project

Analysis

The Transformation Project is a registered charity in United States, based in Westbrook, ME. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, The Transformation Project reported income of $142k and spending of $114k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $114k to $142k (+24%), an average of +5.4% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 66% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Transformation Project sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 39th percentile within ME. Charities of a similar size with the same main cause include Russo Street Apartments Inc ($141k), Village at Oasis Park - Phase I Inc ($142k) and Bayou Manor Residents Assoc ($141k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $15k (13% of expenses). Other salaries and wages came to $27k. At year end it held assets of $663k against liabilities of $387k, net assets of $276k. It reported 3 employees.