Project 58 Inc

Analysis

Project 58 Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Project 58 Inc reported income of $68k and spending of $68k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $99k to $68k (-31%), an average of -8.8% a year. The sharpest change came in the year to June 2021, when income dropped by 28%. Over the whole period it spent 103% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Project 58 Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within OK. Charities of a similar size with the same main cause include Christian Healing Center Inc ($68k), Iglesia Morada de Jacob ($68k) and Holy Cross Chinese Christian Church Ltd ($68k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $54k against liabilities of $1,280, net assets of $53k.