Opportunities Industrialization Center of New Britain Inc

Analysis

Opportunities Industrialization Center of New Britain Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in July 1972, 54 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 December 2023, Opportunities Industrialization Center of New Britain Inc reported income of $1.4m and spending of $1.4m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $871k to $1.4m (+57%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Opportunities Industrialization Center of New Britain Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.4m), Independent Living Center of Southern Califoria Inc ($1.4m) and Douglas County Historical Society ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $113k (8.3% of expenses). Other salaries and wages came to $508k. At year end it held assets of $145k against liabilities of $105k, net assets of $41k. It reported 102 employees.