Pegasus Project Foundation

Analysis

Pegasus Project Foundation is a registered charity in United States, based in Yakima, WA. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 October 2023, Pegasus Project Foundation reported income of $525k and spending of $568k, spending 108% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $570k to $525k (-8.0%), an average of -2.1% a year. The sharpest change came in the year to October 2021, when income rose by 32%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pegasus Project Foundation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within WA. Charities of a similar size with the same main cause include Family Promise of Forsyth County Inc ($525k), Connection Fund-Liberty Inc ($525k) and Queer Power Alliance ($525k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 43% and program service revenue 7.7% of the total. Compensation of current officers, directors and key employees was $75k (13% of expenses). Other salaries and wages came to $197k. At year end it held assets of $2.2m against liabilities of $12k, net assets of $2.1m. It reported 12 employees.