Pines Educational Assistance Corporation

Analysis

Pines Educational Assistance Corporation is a registered charity in United States, based in Kingwood, TX. It received its IRS tax-exemption ruling in June 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 June 2023, Pines Educational Assistance Corporation reported income of $4.1m and spending of $2.8m, leaving 31% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.3m to $4.1m (+79%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 41%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pines Educational Assistance Corporation 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 TX. Charities of a similar size with the same main cause include Communities in Schools of Washington State ($4.1m), Mastrofrancesco AFC Inc ($4.1m) and Stepping Stones of Dunn County Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $162k (5.7% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $7.4m against liabilities of $1.9m, net assets of $5.5m. It reported 64 employees.