P33

Analysis

P33 is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2019, 7 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 June 2023, P33 reported income of $3.6m and spending of $5.7m, spending 159% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $10.9m to $3.6m (-67%), an average of -31% a year. The sharpest change came in the year to June 2022, when income dropped by 49%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, P33 sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Business Employment Skills Team Inc ($3.6m), Upper Cumberland Local Workforce Development Board Inc ($3.6m) and Chicago Federation of Labor Workforce and Community Initiative ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $818k (14% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $8.0m against liabilities of $821k, net assets of $7.2m. It reported 18 employees.