Providence Place II Inc

Analysis

Providence Place II Inc is a registered charity in United States, based in Southern Pnes, NC. It received its IRS tax-exemption ruling in April 1996, 30 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 September 2023, Providence Place II Inc reported income of $146k and spending of $187k, spending 128% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $123k to $146k (+18%), an average of +4.3% a year. The sharpest change came in the year to September 2023, when income rose by 16%. Over the whole period it spent 140% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Providence Place II Inc sits at the 31st percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within NC. Charities of a similar size with the same main cause include Nantucket Community Service II Inc ($146k), Thi-4 ($146k) and Findley Place Apartments NFP ($146k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. At year end it held assets of $315k against liabilities of $1.5m, 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.