Panama City Rescue Mission Inc

Analysis

Panama City Rescue Mission Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in September 1975, 51 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 September 2023, Panama City Rescue Mission Inc reported income of $707k and spending of $730k, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.0m to $707k (-30%), an average of -8.4% a year. The sharpest change came in the year to September 2021, when income dropped by 38%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Panama City Rescue Mission Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Coalition for Specialized Housing ($707k), Assistance League of San Pedro South Bay ($707k) and United Way of Greater Laporte County Inc ($707k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 2.4% of the total. Other salaries and wages came to $300k. At year end it held assets of $1.6m against liabilities of $530k, net assets of $1.0m. It reported 20 employees.