Parc Inc

Analysis

Parc Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in July 1954, 72 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 September 2023, Parc Inc reported income of $25.0m and spending of $21.2m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $17.3m to $25.0m (+44%), an average of +9.6% a year. The sharpest change came in the year to September 2023, when income rose by 31%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Parc Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include YMCA of Greater Omaha ($25.0m), Possibility Labs ($25.0m) and Cunningham Childrens Home of Urbana Illinois ($24.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $673k (3.2% of expenses). Other salaries and wages came to $12.7m. It paid $22k in professional fundraising fees. At year end it held assets of $16.0m against liabilities of $1.6m, net assets of $14.5m. It reported 547 employees.