Prince Georges Financial Services Corporation

Analysis

Prince Georges Financial Services Corporation is a registered charity in United States, based in Uppr Marlboro, MD. It received its IRS tax-exemption ruling in June 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Prince Georges Financial Services Corporation reported income of $3.3m and spending of $2.9m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $3.3m (+91%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 126%. 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, Prince Georges Financial Services Corporation 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 88th percentile within MD. Charities of a similar size with the same main cause include Nc3-National Coalition of Certification Centers Inc ($3.3m), Insulation Industrys National Apprentice and Training Fund ($3.3m) and Detroit Hispanic Development Corporation ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $625k (21% of expenses). Other salaries and wages came to $838k. At year end it held assets of $8.8m against liabilities of $6.8m, net assets of $2.0m. It reported 19 employees.