Pilgrim Tower East

Analysis

Pilgrim Tower East is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in December 1978, 48 years ago. 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 November 2023, Pilgrim Tower East reported income of $3.8m and spending of $4.5m, spending 118% of what it took in. Across the 5 years on record, from November 2019 to November 2023, income grew from $2.4m to $3.8m (+63%), an average of +13% a year. The sharpest change came in the year to November 2020, when income rose by 53%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pilgrim Tower East sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Westchester Visiting Nurse Services Group Inc ($3.8m), Midwestern University Foundation ($3.8m) and 4th Corporation ($3.8m).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 77% and program service revenue 20% of the total. At year end it held assets of $15.6m against liabilities of $245k, net assets of $15.4m.