Commonwealth Center for Advanced Manufacturing

Analysis

Commonwealth Center for Advanced Manufacturing is a registered charity in United States, based in Disputanta, VA. It received its IRS tax-exemption ruling in March 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Commonwealth Center for Advanced Manufacturing reported income of $13.9m and spending of $9.1m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $13.9m (+237%), an average of +36% a year. The sharpest change came in the year to June 2020, when income rose by 167%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Commonwealth Center for Advanced Manufacturing sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Cincinnati Ballet Company Inc ($13.9m), French International School of Oregon ($13.9m) and Nasher Sculpture Center ($13.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $350k (3.8% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $6.9m against liabilities of $10.7m, net assets of -$3.8m. It reported 52 employees.