Promise Youth Development Inc

Analysis

Promise Youth Development Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Promise Youth Development Inc reported income of $210k and spending of $184k, spending 88% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $86k to $210k (+144%), an average of +144% a year. The sharpest change came in the year to December 2023, when income rose by 144%. Over the whole period it spent 94% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Promise Youth Development Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NC. Charities of a similar size with the same main cause include Adventist Young Professionals ($209k), Boys & Girls Club of Pleasants County Inc ($210k) and Ezras Talmud Chochem Inc ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $105k against liabilities of $0, net assets of $105k.