Klingberg Family Centers Inc

Analysis

Klingberg Family Centers Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in January 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Klingberg Family Centers Inc reported income of $9.6m and spending of $10.5m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.5m to $9.6m (+13%), an average of +3.1% a year. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Klingberg Family Centers Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Licking Knox Goodwill Industries Inc ($9.6m), Young Mens Christian Assn of Springfield ($9.6m) and Community Day School ($9.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 27% of the total. Other salaries and wages came to $7.1m. At year end it held assets of $5.0m against liabilities of $31.7m, net assets of -$26.8m. It reported 157 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.