Progress Inc

Analysis

Progress Inc is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in July 1975, 51 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 June 2024, Progress Inc reported income of $13.1m and spending of $12.5m, spending 96% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.4m to $13.1m (+39%), an average of +6.9% a year. The sharpest change came in the year to June 2021, when income rose by 22%. 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, Progress Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Carey Services Inc ($13.1m), St Vincent de Paul Social Services Inc ($13.1m) and Wood Lane Residential Services ($13.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $250k (2.0% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $7.4m against liabilities of $1.8m, net assets of $5.6m. It reported 301 employees.