Cincinnati Urban Promise Inc

Analysis

Cincinnati Urban Promise Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, 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 May 2023, Cincinnati Urban Promise Inc reported income of $871k and spending of $958k, spending 110% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $156k to $871k (+459%), an average of +54% a year. The sharpest change came in the year to May 2021, when income rose by 185%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cincinnati Urban Promise Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include Ohio Alliance of Direct Support Professionals ($871k), Clifton Heights Community Urban Redevelopment Corporation ($871k) and Nashville Grown ($870k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 67% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $32k (3.4% of expenses). Other salaries and wages came to $388k. At year end it held assets of $2.6m against liabilities of $372k, net assets of $2.2m. It reported 47 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.