Promise Pointe Inc

Analysis

Promise Pointe Inc is a registered charity in United States, based in Victoria, TX. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Pointe Inc reported income of $405k and spending of $229k, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $326k to $405k (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 41% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Promise Pointe Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 71st percentile within TX. Charities of a similar size with the same main cause include Delta Housing Corporation of the District of Columbia ($405k), Mason City RHF Housing Inc ($405k) and Northfield Housing Development Fund Corporation ($405k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 13% of the total. At year end it held assets of $1.6m against liabilities of $2,733, net assets of $1.6m.