Psalms 23 Project Inc

Analysis

Psalms 23 Project Inc is a registered charity in United States, based in Duluth, GA. It received its IRS tax-exemption ruling in July 1999, 27 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, Psalms 23 Project Inc reported income of $341k and spending of $389k, spending 114% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $247k to $341k (+38%), an average of +6.6% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 126% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Psalms 23 Project Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 68th percentile within GA. Charities of a similar size with the same main cause include Empowered for Life Inc ($340k), Fatherhood Connection Inc ($341k) and Dad Tired ($340k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $75k. At year end it held assets of $1.8m against liabilities of $2.5m, net assets of -$692k.

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.