Pearl Project Inc

Analysis

Pearl Project Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Pearl Project Inc reported income of $460k and spending of $320k, leaving 30% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income grew from $182k to $460k (+153%), an average of +59% a year. The sharpest change came in the year to June 2024, when income rose by 99%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pearl Project Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include City Youth Now ($460k), Cowley County Council on Aging Inc ($460k) and Heart House ($460k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $100k (31% of expenses). At year end it held assets of $297k against liabilities of $19k, net assets of $278k. It reported 4 employees.