Project Evident Inc

Analysis

Project Evident Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Project Evident Inc reported income of $6.5m and spending of $2.8m, leaving 57% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $591k to $6.5m (+995%), an average of +995% a year. The sharpest change came in the year to December 2023, when income rose by 995%. Over the whole period it spent 42% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Project Evident Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Oai Inc ($6.5m), Junior League of Houston Inc ($6.5m) and Advanced Employment Inc ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $207k (7.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $4.3m against liabilities of $171k, net assets of $4.1m. It reported 23 employees.