People Incorporated Financial Services

Analysis

People Incorporated Financial Services is a registered charity in United States, based in Abingdon, VA. It received its IRS tax-exemption ruling in November 2002, 24 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, People Incorporated Financial Services reported income of $3.2m and spending of $2.8m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $3.2m (+92%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 71%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, People Incorporated Financial Services 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 89th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Star Inc ($3.2m), Goodwill Industires of South Mississippi Inc ($3.2m) and Scott Key Center Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 38% of the total. Other salaries and wages came to $535k. At year end it held assets of $11.1m against liabilities of $3.2m, net assets of $7.8m.