Project 1590 Inc

Analysis

Project 1590 Inc is a registered charity in United States, based in Fairmont, MN. It received its IRS tax-exemption ruling in April 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 December 2023, Project 1590 Inc reported income of $126k and spending of $100k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $77k to $126k (+64%), an average of +64% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Project 1590 Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 40th percentile within MN. Charities of a similar size with the same main cause include Roosevelt County Community Development Corporation ($126k), Center for Community Transformation Inc ($126k) and Mojo in the Morning Breaking and Entering ($125k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.7% of the total. At year end it held assets of $181k against liabilities of $0, net assets of $181k.