Providence Place V

Analysis

Providence Place V is a registered charity in United States, based in Southern Pnes, NC. It received its IRS tax-exemption ruling in February 2001, 25 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 V reported income of $212k and spending of $229k, spending 108% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $169k to $212k (+25%), an average of +5.8% a year. Over the whole period it spent 123% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Providence Place V sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NC. Charities of a similar size with the same main cause include Blue Water Chamber Orchestra ($212k), Orissa Culture Center Inc ($212k) and Orange County Arts Alliance ($212k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. At year end it held assets of $1.0m against liabilities of $2.3m, net assets of -$1.3m.

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.