Foundation for Progess and Education Inc

Analysis

Foundation for Progess and Education Inc is a registered charity in United States, based in N Hollywood, CA. It received its IRS tax-exemption ruling in January 1981, 45 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Foundation for Progess and Education Inc reported income of $867k and spending of $723k, spending 83% of its income. Across the 4 years on record, from July 2020 to July 2023, income grew from $642k to $867k (+35%), an average of +10% a year. The sharpest change came in the year to July 2021, when income rose by 64%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Progess and Education Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Teach O Rea Preparatory Preschool ($867k), Modern Chinese School ($867k) and Friends of Marquez ($867k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $85k (12% of expenses). Other salaries and wages came to $323k. At year end it held assets of $3.4m against liabilities of $2.0m, net assets of $1.4m. It reported 11 employees.