Greater Torrington Family Development Center Inc

Analysis

Greater Torrington Family Development Center Inc is a registered charity in United States, based in Torrington, CT. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Greater Torrington Family Development Center Inc reported income of $651k and spending of $667k, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $348k to $651k (+87%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 85%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Greater Torrington Family Development Center Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within CT. Charities of a similar size with the same main cause include Suffolk County Chapter of the New York State School Facilities Assoc ($651k), California Hispanic Chambers of Commerce Foundation ($651k) and Lehman Foundation ($651k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 5.8% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $45k (6.7% of expenses). Other salaries and wages came to $472k. At year end it held assets of $153k against liabilities of $15k, net assets of $138k. It reported 44 employees.