Providence Ministries Inc

Analysis

Providence Ministries Inc is a registered charity in United States, based in Dalton, GA. It received its IRS tax-exemption ruling in April 1985, 41 years ago. 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, Providence Ministries Inc reported income of $10.0m and spending of $9.7m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $10.0m (+60%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Ministries Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within GA. Charities of a similar size with the same main cause include Austin Street Center ($10.0m), William F Vilas Estate ($10.0m) and Morris Health Services ($10.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $278k (2.9% of expenses). Other salaries and wages came to $2.8m. It paid $31k in professional fundraising fees. At year end it held assets of $7.2m against liabilities of $133k, net assets of $7.1m. It reported 240 employees.