Potential Energy Coalition Inc

Analysis

Potential Energy Coalition Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 2020, 6 years ago. 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, Potential Energy Coalition Inc reported income of $30.9m and spending of $27.0m, spending 87% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $2.2m to $30.9m (+1320%), an average of +142% a year. The sharpest change came in the year to December 2021, when income rose by 789%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Potential Energy Coalition Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include McDermott Center ($30.9m), Lutheran Social Service of Colorado ($30.9m) and Stony Brook School ($30.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $1.3m (4.8% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $29.8m against liabilities of $799k, net assets of $29.0m. It reported 30 employees.