Passport Inc

Analysis

Passport Inc is a registered charity in United States, based in Vestavia HLS, AL. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 September 2023, Passport Inc reported income of $2.4m and spending of $2.3m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.5m to $2.4m (-4.5%), an average of -1.1% a year. The sharpest change came in the year to September 2020, when income dropped by 58%. Over the whole period it spent 95% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Passport Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 91st percentile within AL. Charities of a similar size with the same main cause include Mandan Baseball Club Inc ($2.4m), Friends of the Children Seattle ($2.4m) and Boys & Girls Club of Capistrano Valley ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 30% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $232k (9.9% of expenses). Other salaries and wages came to $530k. At year end it held assets of $2.2m against liabilities of $848k, net assets of $1.4m. It reported 46 employees.