Providence Place VI Inc

Analysis

Providence Place VI Inc is a registered charity in United States, based in Southern Pnes, NC. It received its IRS tax-exemption ruling in March 2007, 19 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 September 2023, Providence Place VI Inc reported income of $180k and spending of $285k, spending 159% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $166k to $180k (+8.3%), an average of +2.0% a year. Over the whole period it spent 143% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Providence Place VI Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NC. Charities of a similar size with the same main cause include Rebuilding Together-San Diego ($179k), Southern Hills Preservation Corporation Inc ($180k) and Homeownership for All Inc ($179k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. At year end it held assets of $1.9m against liabilities of $3.1m, net assets of -$1.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.