Wheels of Progress Inc

Analysis

Wheels of Progress Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Wheels of Progress Inc reported income of $192k and spending of $250k, spending 130% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $200k to $192k (-3.8%), an average of -1.3% a year. The sharpest change came in the year to December 2021, when income dropped by 16%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wheels of Progress Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 50th percentile within NY. Charities of a similar size with the same main cause include Barton Housing Inc ($192k), SNHS Elderly Housing IX Inc ($192k) and Sandwich Senior Housing Committee ($192k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. At year end it held assets of $693k against liabilities of $578k, net assets of $115k.