Progress Enterprises Inc

Analysis

Progress Enterprises Inc is a registered charity in United States, based in Jamestown, ND. It received its IRS tax-exemption ruling in January 1976, 50 years ago. 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 2024, Progress Enterprises Inc reported income of $3.3m and spending of $3.5m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $3.7m to $3.3m (-9.7%), an average of -2.5% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Progress Enterprises Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within ND. Charities of a similar size with the same main cause include Columbia Christian Schools ($3.3m), Clear Motivations ($3.3m) and Indiana Coalition Against Domestic Violence Inc ($3.3m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 56% of the total. Compensation of current officers, directors and key employees was $21k (0.6% of expenses). At year end it held assets of $5.8m against liabilities of $419k, net assets of $5.4m. It reported 137 employees.