Winsted Area Child Care Center Inc

Analysis

Winsted Area Child Care Center Inc is a registered charity in United States, based in Winsted, CT. It received its IRS tax-exemption ruling in August 1980, 46 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Winsted Area Child Care Center Inc reported income of $2.0m and spending of $1.8m, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.6m to $2.0m (+22%), an average of +6.9% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Winsted Area Child Care Center Inc 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 84th percentile within CT. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.0m), United Parents ($2.0m) and Mary Mitchell Family and Youth Center Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $57k (3.2% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $2.3m against liabilities of $866k, net assets of $1.4m. It reported 66 employees.