Providence Foundation

Analysis

Providence Foundation is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Providence Foundation reported income of $1.8m and spending of $2.1m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $916k to $1.8m (+99%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 78%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within AL. Charities of a similar size with the same main cause include Washington State Council on Problem Gambling a Non Profit Organization ($1.8m), St Thomas More Academy Inc ($1.8m) and Aiccu Research Foundation ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 111% of the total. At year end it held assets of $9.4m against liabilities of $26k, net assets of $9.4m.