Providence Foundation

Analysis

Providence Foundation is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in October 1985, 41 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2023, Providence Foundation reported income of $223k and spending of $166k, leaving 26% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $177k to $223k (+26%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 26%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Providence Foundation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within VA. Charities of a similar size with the same main cause include American Hearing Impaired Hockey Association Inc ($223k), Historical Society of the Town of Warwick ($223k) and The Lawn Institute Foundation ($223k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $86k (52% of expenses). At year end it held assets of $215k against liabilities of $0, net assets of $215k. It reported 2 employees.