Promise Landing Farm Inc

Analysis

Promise Landing Farm Inc is a registered charity in United States, based in Uppr Marlboro, MD. It received its IRS tax-exemption ruling in April 2019, 7 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, Promise Landing Farm Inc reported income of $736k and spending of $827k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $306k to $736k (+141%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 65%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promise Landing Farm Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include White River Council on Aging ($736k), Father Kens Vineyard Inc ($736k) and Dwellingsnow Inc ($736k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $109k (13% of expenses). Other salaries and wages came to $323k. At year end it held assets of $112k against liabilities of $61k, net assets of $51k. It reported 18 employees.