Promise for Haiti Inc

Analysis

Promise for Haiti Inc is a registered charity in United States, based in Belmont, NC. It received its IRS tax-exemption ruling in September 1982, 44 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 December 2023, Promise for Haiti Inc reported income of $975k and spending of $1.0m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $975k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2020, when income dropped by 20%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Promise for Haiti Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Young Womens Christian Association of Sweetwater County ($974k), Nether United Soccer Club ($975k) and J H Wade TR for Cleveland Museum of Art ($974k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $44k. At year end it held assets of $567k against liabilities of $28k, net assets of $539k. It reported 3 employees.