The Welcome Project Inc

Analysis

The Welcome Project Inc is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in November 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, The Welcome Project Inc reported income of $58k and spending of $38k, leaving 34% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $32k to $58k (+82%), an average of +82% a year. The sharpest change came in the year to December 2023, when income rose by 82%. Over the whole period it spent 73% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Welcome Project Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 21st percentile within KY. Charities of a similar size with the same main cause include Guided by Goats Inc ($58k), International J I Case Heritage Foundation Inc ($58k) and Lanesboro Development Corporation ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $29k against liabilities of $1,864, net assets of $27k.