Martin Luther King Community Center Incorporated

Analysis

Martin Luther King Community Center Incorporated is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in April 1984, 42 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Martin Luther King Community Center Incorporated reported income of $4.4m and spending of $4.4m, spending 101% of its income. Across the 6 years on record, from December 2019 to June 2024, income grew from $2.7m to $4.4m (+63%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 553%. Over the whole period it spent 57% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Martin Luther King Community Center Incorporated sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within RI. Charities of a similar size with the same main cause include Salinas Regional Sports Authority ($4.4m), Washington County Fair Association ($4.4m) and McLean Youth Soccer Association ($4.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $215k (4.9% of expenses). Other salaries and wages came to $1.2m. It paid $15k in professional fundraising fees. At year end it held assets of $17.0m against liabilities of $162k, net assets of $16.9m. It reported 51 employees.