Vocational Advancement Center Inc

Analysis

Vocational Advancement Center Inc is a registered charity in United States, based in Watertown, MA. It received its IRS tax-exemption ruling in August 1982, 44 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2024, Vocational Advancement Center Inc reported income of $1.1m and spending of $1.1m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $733k to $1.1m (+56%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vocational Advancement Center Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include New Community Leadership Foundation Inc ($1.1m), Ceiba Inc ($1.1m) and Sheboygan County Economic Development Corporation Foundation ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $101k (9.0% of expenses). Other salaries and wages came to $617k. At year end it held assets of $3.4m against liabilities of $48k, net assets of $3.3m. It reported 35 employees.