Innovative Manufacturers Center Inc

Analysis

Innovative Manufacturers Center Inc is a registered charity in United States, based in Williamsport, PA. It received its IRS tax-exemption ruling in August 1989, 37 years ago. 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, Innovative Manufacturers Center Inc reported income of $1.3m and spending of $1.3m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.6m to $1.3m (-20%), an average of -7.1% a year. The sharpest change came in the year to June 2023, when income dropped by 16%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Innovative Manufacturers Center Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within PA. Charities of a similar size with the same main cause include Michigan Student Assembly of the University of Michigan ($1.3m), Link Education Partners Inc ($1.3m) and Frederick Community College Foundation Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $121k (9.4% of expenses). Other salaries and wages came to $461k. At year end it held assets of $2.4m against liabilities of $137k, net assets of $2.2m. It reported 16 employees.