Promise Housing Plus

Analysis

Promise Housing Plus is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Housing Plus reported income of $486k and spending of $625k, spending 129% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $263k to $486k (+85%), an average of +36% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 92% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Promise Housing Plus sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within KY. Charities of a similar size with the same main cause include Islamic Center of Southwest Florida Inc ($486k), Sanatan Dharm Mandir ($486k) and Builders of the Highway Foundation ($485k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.5% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $35k (5.6% of expenses). Other salaries and wages came to $124k. At year end it held assets of $129k against liabilities of $4,511, net assets of $125k. It reported 5 employees.