Centro Multicultural LA Familia Inc

Analysis

Centro Multicultural LA Familia Inc is a registered charity in United States, based in Pontiac, MI. It received its IRS tax-exemption ruling in October 2007, 19 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 September 2023, Centro Multicultural LA Familia Inc reported income of $1.0m and spending of $2.0m, spending 197% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $576k to $1.0m (+76%), an average of +15% a year. The sharpest change came in the year to September 2020, when income rose by 100%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Centro Multicultural LA Familia Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MI. Charities of a similar size with the same main cause include Community Performing Arts Center Foundation Inc ($1.0m), Holmes Center for the Arts Ltd ($1.0m) and Spacetaker ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $196k against liabilities of $789k, net assets of -$593k. It reported 63 employees.