Providence of Maryland Inc

Analysis

Providence of Maryland Inc is a registered charity in United States, based in Millersville, MD. It received its IRS tax-exemption ruling in February 1973, 53 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providence of Maryland Inc reported income of $8.5m and spending of $8.9m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.9m to $8.5m (-14%), an average of -3.6% a year. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Providence of Maryland Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Newark Downtown District Management Corporation ($8.5m), Nevada Battle Born Growth Escalator Inc ($8.6m) and Peoria Production Shop Inc ($8.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $419k (4.7% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $17.4m against liabilities of $5.1m, net assets of $12.3m. It reported 169 employees.