Rende Progress Capital

Analysis

Rende Progress Capital is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Rende Progress Capital reported income of $814k and spending of $467k, leaving 43% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $235k to $814k (+246%), an average of +51% a year. The sharpest change came in the year to December 2020, when income rose by 670%. Over the whole period it spent 34% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Rende Progress Capital sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MI. Charities of a similar size with the same main cause include Innovate Washington Foundation ($814k), Christian Holyland Foundation Inc ($814k) and Hanover Charities USA Inc ($814k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $293k (63% of expenses). At year end it held assets of $3.4m against liabilities of $514k, net assets of $2.9m. It reported 4 employees.