Waterbury Promise Inc

Analysis

Waterbury Promise Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in August 2022, 4 years ago. 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 2024, Waterbury Promise Inc reported income of $2.7m and spending of $793k, leaving 70% of income unspent that year. The sharpest change came in the year to June 2024, when income dropped by 41%. Over the whole period it spent 18% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Waterbury Promise Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within CT. Charities of a similar size with the same main cause include Public Policy Lab ($2.7m), Louisville Olmsted Parks Conservancy Inc ($2.7m) and Villa Comunitaria ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $137k (17% of expenses). Other salaries and wages came to $113k. It paid $6,489 in professional fundraising fees. At year end it held assets of $6.1m against liabilities of $38k, net assets of $6.0m.