Oil Region Alliance of Business Industry & Tourism

Analysis

Oil Region Alliance of Business Industry & Tourism is a registered charity in United States, based in Oil City, PA. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, 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 December 2023, Oil Region Alliance of Business Industry & Tourism reported income of $1.7m and spending of $1.6m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.7m (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 69%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Oil Region Alliance of Business Industry & Tourism sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include Community Empowerment Ass PTA ($1.7m), Warren County Sheltered Workshop Inc ($1.7m) and Michigan Tech Enterprise Corporation ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $127k (8.1% of expenses). Other salaries and wages came to $478k. At year end it held assets of $6.5m against liabilities of $3.1m, net assets of $3.3m. It reported 16 employees.