Progressive Alliance Community Development Corporation

Analysis

Progressive Alliance Community Development Corporation is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Progressive Alliance Community Development Corporation reported income of $172k and spending of $132k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $274k to $172k (-37%), an average of -37% a year. The sharpest change came in the year to December 2023, when income dropped by 37%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Progressive Alliance Community Development Corporation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within OH. Charities of a similar size with the same main cause include Idea Works ($172k), Norfolk Innovation Corridor ($172k) and Halo Inc ($172k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.