Providence Martial Arts Inc

Analysis

Providence Martial Arts Inc is a registered charity in United States, based in Pawtucket, RI. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Providence Martial Arts Inc reported income of $153k and spending of $124k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $104k to $153k (+47%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Providence Martial Arts Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 44th percentile within RI. Charities of a similar size with the same main cause include Senior Steer Ropers Association Inc ($153k), Japan American Sports Officials Association ($153k) and United States Bowling Congress Inc ($153k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $47k (38% of expenses). At year end it held assets of $113k against liabilities of $0, net assets of $113k. It reported 2 employees.