Project R E S T

Analysis

Project R E S T is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in February 1984, 42 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Project R E S T reported income of $2.2m and spending of $2.4m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $2.2m (-13%), an average of -3.4% a year. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project R E S T sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within SC. Charities of a similar size with the same main cause include Arc of Clarion County Inc ($2.2m), Under the Rainbow Early Education Center ($2.2m) and Sterling House Community Center Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $100k (4.2% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $2.4m against liabilities of $252k, net assets of $2.1m. It reported 43 employees.

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.