Career Resources Inc

Analysis

Career Resources Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover employment, which this site groups under community and economic 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, Career Resources Inc reported income of $15.8m and spending of $13.2m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.0m to $15.8m (+97%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 66%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Career Resources Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CT. Charities of a similar size with the same main cause include Southeast Effective Development ($15.8m), Midtown Business Association Inc ($15.9m) and Lifestyles for the Disabled Inc ($15.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $231k (1.7% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $6.7m against liabilities of $2.9m, net assets of $3.8m. It reported 183 employees.