Pursuit Transformation Company Inc

Analysis

Pursuit Transformation Company Inc is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Pursuit Transformation Company Inc reported income of $10.9m and spending of $11.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $10.9m (+72%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 51%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Pursuit Transformation Company Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Ferguson Library ($10.9m), Fort Worth Education Partnership Inc ($10.9m) and The New York Opportunity Network Inc ($10.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $1.2m (11% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $14.0m against liabilities of $10.4m, net assets of $3.6m. It reported 66 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.