Reese S Purpose Inc

Analysis

Reese S Purpose Inc is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Reese S Purpose Inc reported income of $195k and spending of $135k, leaving 31% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $42k to $195k (+359%), an average of +359% a year. The sharpest change came in the year to December 2023, when income rose by 359%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Reese S Purpose 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 53rd percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include Oviedo High School Band Booster Association Inc ($195k), Alton Little Theater Inc ($195k) and Creative Arts Council of Wells County Inc ($195k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $84k against liabilities of $2,631, net assets of $81k.