Promise Land Community Development Corporation

Analysis

Promise Land Community Development Corporation is a registered charity in United States, based in Augusta, GA. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2022, Promise Land Community Development Corporation reported income of $429k and spending of $521k, spending 121% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $378k to $429k (+14%), an average of +4.3% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Promise Land Community Development Corporation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within GA. Charities of a similar size with the same main cause include Grace Home Inc ($429k), Gerrish TND Inc ($429k) and United Church Residences of Marion Ohio Inc ($429k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 43% and program service revenue 52% of the total. At year end it held assets of $1.2m against liabilities of $908k, net assets of $265k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.