Suazo Business Center

Analysis

Suazo Business Center is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in December 2002, 24 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 September 2023, Suazo Business Center reported income of $1.5m and spending of $1.5m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $536k to $1.5m (+188%), an average of +30% a year. The sharpest change came in the year to September 2021, when income rose by 60%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Suazo Business Center sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within UT. Charities of a similar size with the same main cause include Refuge Domestic Violence Shelter Inc ($1.5m), Adventist Community Services of Greater Washington ($1.5m) and Holy Redeemer-Dale Zipley Homes for Independent Adults ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 95% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $148k (10% of expenses). Other salaries and wages came to $518k. It paid $50k in professional fundraising fees. At year end it held assets of $1.4m against liabilities of $72k, net assets of $1.3m. It reported 19 employees.