The-Philadelphia Poverty Action Fund

Analysis

The-Philadelphia Poverty Action Fund is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 2023, 3 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, The-Philadelphia Poverty Action Fund reported income of $1.5m and spending of $8.4m, spending 545% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $12.9m to $1.5m (-88%), an average of -65% a year. The sharpest change came in the year to June 2023, when income dropped by 86%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The-Philadelphia Poverty Action Fund sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within PA. Charities of a similar size with the same main cause include Lime Connect Inc ($1.5m), South Jersey Technology Park at Rowan University ($1.5m) and Star C Corporation ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $206k (2.4% of expenses). Other salaries and wages came to $104k. At year end it held assets of $8.2m against liabilities of $1.6m, net assets of $6.6m.