Progress Club Foundation Inc

Analysis

Progress Club Foundation Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in July 2014, 12 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, Progress Club Foundation Inc reported income of $70k and spending of $11k, leaving 84% of income unspent that year. Across the 4 years on record, from December 2018 to December 2021, income grew from $55k to $70k (+29%), an average of +8.9% a year. The sharpest change came in the year to December 2021, when income rose by 171%. Over the whole period it spent 53% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Progress Club Foundation Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within MD. Charities of a similar size with the same main cause include Taylor Made Foundation ($70k), Micronesia Community Development Corporation ($70k) and Meals on Wheels-Bullhead City Az ($70k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 36% of the total. At year end it held assets of $387k against liabilities of $0, net assets of $387k.