Polaris Team Inc

Analysis

Polaris Team Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in September 2021, 5 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, Polaris Team Inc reported income of $299k and spending of $299k, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $370k to $299k (-19%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 19%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Polaris Team Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within RI. Charities of a similar size with the same main cause include Council for Historic Downtown Issaquah ($298k), Neighborhood Investment Corporation ($299k) and Shaker Heights Development Corp ($298k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $37k. At year end it held assets of $0 against liabilities of $0, net assets of $0.