Phoenix Employment Services of Wilmington Inc

Analysis

Phoenix Employment Services of Wilmington Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover employment, 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, Phoenix Employment Services of Wilmington Inc reported income of $1.8m and spending of $1.7m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $911k to $1.8m (+94%), an average of +25% a year. The sharpest change came in the year to June 2023, when income rose by 42%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Phoenix Employment Services of Wilmington Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Georgia Corporation for Economic Development ($1.8m), Minot Community Foundation ($1.8m) and Hampton-Newport News Community Services Board Property Company ($1.8m).

On its Form 990 for the period ending June 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 $108k (6.5% of expenses). Other salaries and wages came to $754k. It paid $36k in professional fundraising fees. At year end it held assets of $1.4m against liabilities of $512k, net assets of $846k. It reported 19 employees.