Procap Housing Inc

Analysis

Procap Housing Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in May 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Procap Housing Inc reported income of $148k and spending of $241k, spending 163% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $156k to $148k (-4.9%), an average of -1.2% a year. Over the whole period it spent 138% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Procap Housing Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 43rd percentile within RI. Charities of a similar size with the same main cause include Ark Housing Corporation ($148k), Mobility Special Care Housing Inc ($148k) and Big Springs Housing Association Inc ($148k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $1.3m against liabilities of $2.1m, net assets of -$775k.

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.