Progress Okc a Community Development Corporation Inc

Analysis

Progress Okc a Community Development Corporation Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in December 2016, 10 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Progress Okc a Community Development Corporation Inc reported income of $171k and spending of $423k, spending 248% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $304k to $171k (-44%), an average of -14% a year. The sharpest change came in the year to December 2020, when income rose by 306%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Progress Okc a Community Development Corporation Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within OK. Charities of a similar size with the same main cause include Community of Hope Inc ($170k), Redlands Rotary Club Foundation ($171k) and Good Stuff ($170k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 21% of the total. At year end it held assets of $1.3m against liabilities of $807k, net assets of $483k.