Procyon Strong Foundation Inc

Analysis

Procyon Strong Foundation Inc is a registered charity in United States, based in Shelton, CT. It received its IRS tax-exemption ruling in March 2019, 7 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, Procyon Strong Foundation Inc reported income of $128k and spending of $80k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $88k to $128k (+45%), an average of +45% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Procyon Strong Foundation Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within CT. Charities of a similar size with the same main cause include Santa Fe Downtown Kiwanis Foundation ($128k), Porter-Leath Early Childhood Foundation ($128k) and Ficra Building Trust ($128k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $50k against liabilities of $2,050, net assets of $48k.