Poverello Center Inc

Analysis

Poverello Center Inc is a registered charity in United States, based in Wilton Manors, FL. It received its IRS tax-exemption ruling in November 1988, 38 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending February 2024, Poverello Center Inc reported income of $4.5m and spending of $4.4m, spending 100% of its income. Across the 6 years on record, from May 2019 to February 2024, income grew from $3.3m to $4.5m (+33%), an average of +5.9% a year. The sharpest change came in the year to February 2023, when income rose by 41%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Poverello Center Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Morris County Prevention Is Key Inc ($4.5m), The African American Art and Culture Complex ($4.5m) and Community Support Network ($4.4m).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 56% and program service revenue 19% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $5.1m against liabilities of $2.4m, net assets of $2.7m. It reported 55 employees.