Gadsden Progress Council

Analysis

Gadsden Progress Council is a registered charity in United States, based in Gadsden, AL. It received its IRS tax-exemption ruling in March 1966, 60 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 July 2023, Gadsden Progress Council reported income of $5.1m and spending of $5.1m, spending 100% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $3.8m to $5.1m (+34%), an average of +7.7% a year. The sharpest change came in the year to July 2022, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gadsden Progress Council sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 95th percentile within AL. Charities of a similar size with the same main cause include CPLC Texas Inc ($5.1m), Riverdale Neighborhood House Inc ($5.1m) and Workforce Investment Council of Clackamas County Inc ($5.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 98% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $206k (4.1% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $1.7m against liabilities of $559k, net assets of $1.1m. It reported 115 employees.