Concurrent Technologies Corporation

Analysis

Concurrent Technologies Corporation is a registered charity in United States, based in Johnstown, PA. It received its IRS tax-exemption ruling in April 1989, 37 years ago. Its declared purposes cover science and technology, 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 June 2024, Concurrent Technologies Corporation reported income of $103.0m and spending of $96.5m, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $64.7m to $103.0m (+59%), an average of +12% a year. The sharpest change came in the year to June 2024, when income rose by 21%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Concurrent Technologies Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Cleveland Museum of Art ($102.9m), Lincoln Center Development Project Inc ($104.6m) and Whitney Museum of American Art ($100.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $3.1m (3.2% of expenses). Other salaries and wages came to $35.4m. At year end it held assets of $86.4m against liabilities of $22.3m, net assets of $64.1m. It reported 436 employees.