Proyecto Faro Inc

Analysis

Proyecto Faro Inc is a registered charity in United States, based in Stony Point, NY. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Proyecto Faro Inc reported income of $291k and spending of $305k, spending 105% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $247k to $291k (+18%), an average of +8.6% a year. The sharpest change came in the year to December 2022, when income rose by 56%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Proyecto Faro Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Family Mentor Foundation ($291k), National Association for Korean Schools Inc ($291k) and New Britain Roots Inc ($291k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Other salaries and wages came to $218k. At year end it held assets of $137k against liabilities of $52, net assets of $137k. It reported 8 employees.