Provident Resources Group Inc

Analysis

Provident Resources Group Inc is a registered charity in United States, based in Baton Rouge, LA. It received its IRS tax-exemption ruling in June 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 2022, Provident Resources Group Inc reported income of $333.2m and spending of $337.5m, spending 101% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $195.8m to $333.2m (+70%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 60%. Over the whole period it spent 123% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Provident Resources Group Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within LA. Charities of a similar size with the same main cause include Pih Health Physicians ($333.2m), Ridgeview Medical Center ($333.3m) and Kapiolani Medical Specialists ($333.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.5% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $4.2m (1.3% of expenses). Other salaries and wages came to $29.8m. At year end it held assets of $2.62bn against liabilities of $3.02bn, net assets of -$405.9m. It reported 83 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.