Societys Assets Incorporated

Analysis

Societys Assets Incorporated is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in November 2000, 26 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, Societys Assets Incorporated reported income of $4.6m and spending of $4.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.2m to $4.6m (-50%), an average of -16% a year. The sharpest change came in the year to June 2022, when income dropped by 32%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Societys Assets Incorporated sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within WI. Charities of a similar size with the same main cause include Metafund Corporation ($4.6m), South Segment Community Development Corporation ($4.6m) and Kuhn Employment Opportunities Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $109k (2.4% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $9.8m against liabilities of $3.2m, net assets of $6.6m. It reported 294 employees.