Ica Group Incorporated

Analysis

Ica Group Incorporated is a registered charity in United States, based in Florence, MA. It received its IRS tax-exemption ruling in February 1978, 48 years ago. 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 2023, Ica Group Incorporated reported income of $2.0m and spending of $1.9m, spending 95% of its income. Across the 6 years on record, from May 2019 to June 2023, income fell from $2.5m to $2.0m (-21%), an average of -4.6% a year. The sharpest change came in the year to June 2023, when income rose by 895%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ica Group Incorporated sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include St Andrews Retirement Community ($2.0m), Renaissance Unlimited Homes Inc ($2.0m) and North Dakota Firefighters Association ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 40% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $105k (5.6% of expenses). Other salaries and wages came to $901k. At year end it held assets of $1.6m against liabilities of $872k, net assets of $704k. It reported 18 employees.