Progressive Residential Services of New Mexico Inc

Analysis

Progressive Residential Services of New Mexico Inc is a registered charity in United States, based in Bloomfld HLS, MI. It received its IRS tax-exemption ruling in May 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Progressive Residential Services of New Mexico Inc reported income of $4.6m and spending of $4.4m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $4.6m (+71%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Progressive Residential Services of New Mexico Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Crewe Endowment Foundation ($4.6m), Bethany Childrens Home Inc ($4.6m) and Sarahs Inn ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $700 (0.0% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $2.5m against liabilities of $626k, net assets of $1.8m. It reported 161 employees.