Promised Learning Center Ltd

Analysis

Promised Learning Center Ltd is a registered charity in United States, based in Bethel, NC. It received its IRS tax-exemption ruling in March 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Promised Learning Center Ltd reported income of $365k and spending of $353k, spending 97% of its income. Across the 3 years on record, from December 2020 to December 2023, income grew from $237k to $365k (+54%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promised Learning Center Ltd sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include Hollister House Inc ($365k), Houston County Agricultural Society ($365k) and Family Promise of the Capital Region Inc ($365k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $66k (19% of expenses). At year end it held assets of $57k against liabilities of $6,280, net assets of $51k.