Ser-Jobs for Progress of the Texas Gulf Coast Inc

Analysis

Ser-Jobs for Progress of the Texas Gulf Coast Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in September 1980, 46 years ago. Its declared purposes cover employment, 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 August 2023, Ser-Jobs for Progress of the Texas Gulf Coast Inc reported income of $8.6m and spending of $9.3m, spending 108% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $7.0m to $8.6m (+24%), an average of +5.5% a year. The sharpest change came in the year to August 2021, when income rose by 39%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ser-Jobs for Progress of the Texas Gulf Coast 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 94th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Opportunity House Inc ($8.6m), Pace Enterprises of West Virginia Inc ($8.6m) and Iuoe & Assoc General Contractors of MN Apprentship & Training Program ($8.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $554k (5.9% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $17.5m against liabilities of $2.5m, net assets of $15.0m. It reported 276 employees.