Park Central Inc

Analysis

Park Central Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in August 1939, 87 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Park Central Inc reported income of $267k and spending of $494k, spending 185% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $492k to $267k (-46%), an average of -14% a year. The sharpest change came in the year to June 2023, when income dropped by 27%. Over the whole period it spent 135% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Park Central Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within CT. Charities of a similar size with the same main cause include Clemson Area Classical Academy ($267k), Youth for a Better Future ($268k) and Liberty Lodge Inc ($267k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $66k (13% of expenses). Other salaries and wages came to $103k. At year end it held assets of $2.6m against liabilities of $793k, net assets of $1.8m. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.