Poetry Promise Inc

Analysis

Poetry Promise Inc is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2024, Poetry Promise Inc reported income of $86k and spending of $88k, spending 102% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $148k to $86k (-42%), an average of -42% a year. The sharpest change came in the year to June 2024, when income dropped by 42%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Poetry Promise Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 36th percentile within NV. Charities of a similar size with the same main cause include Lafayette Citizens Band Inc ($86k), CMC Leverage Lender Inc ($86k) and Ronald Coase Institute ($86k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 1.4% of the total. At year end it held assets of $9,931 against liabilities of $0, net assets of $9,931.