Central Terminal Restoration Corp

Analysis

Central Terminal Restoration Corp is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Central Terminal Restoration Corp reported income of $1.8m and spending of $471k, leaving 73% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $455k to $1.8m (+286%), an average of +40% a year. The sharpest change came in the year to December 2020, when income rose by 258%. Over the whole period it spent 17% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Central Terminal Restoration Corp sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Cape Cod Museum of Natural History Inc ($1.8m), Hagerstown Aviation Museum Inc ($1.8m) and Encore Creativity Corporation Encore Creativity for Older Adults ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $138k (29% of expenses). Other salaries and wages came to $66k. At year end it held assets of $19.2m against liabilities of $10.4m, net assets of $8.7m. It reported 2 employees.