Corry Industrial Benefit Association

Analysis

Corry Industrial Benefit Association is a registered charity in United States, based in Corry, 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, Corry Industrial Benefit Association reported income of $115k and spending of $46k, leaving 60% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $24k to $115k (+385%), an average of +48% a year. The sharpest change came in the year to December 2020, when income rose by 208%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Corry Industrial Benefit Association sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 38th percentile within PA. Charities of a similar size with the same main cause include Wipp Education Foundation Inc ($115k), Vector Industries Foundation ($115k) and Gifts to Share Inc ($115k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $81k, net assets of $1.0m.