Progres Foundation Corporation

Analysis

Progres Foundation Corporation is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in March 2022, 4 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, Progres Foundation Corporation reported income of $478k and spending of $403k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $276k to $478k (+73%), an average of +74% a year. The sharpest change came in the year to December 2023, when income rose by 73%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Progres Foundation Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include The Village Network Foundation Inc ($478k), Paulding County Area Fdtn-Marshall Memorial Supporting FDTN ($478k) and Fannin County Family Crisis Center Inc ($478k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $173k against liabilities of $24k, net assets of $149k.