Project Independence

Analysis

Project Independence is a registered charity in United States, based in Costa Mesa, CA. It received its IRS tax-exemption ruling in July 1979, 47 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Project Independence reported income of $3.2m and spending of $3.3m, spending 104% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $5.2m to $3.2m (-37%), an average of -11% a year. The sharpest change came in the year to June 2022, when income dropped by 23%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Project Independence 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 89th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Resource Center for Independent Living Inc ($3.2m), Galveston Urban Ministries ($3.2m) and Citizens for the Developmentally Disabled Inc ($3.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $114k (3.4% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $5.0m against liabilities of $665k, net assets of $4.4m.

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.