Town Center Inc

Analysis

Town Center Inc is a registered charity in United States, based in Trimont, MN. It received its IRS tax-exemption ruling in July 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Town Center Inc reported income of $750k and spending of $810k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.9m to $750k (-60%), an average of -21% a year. The sharpest change came in the year to December 2020, when income dropped by 56%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Town Center Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include Trinity Faith Community Development Corporation ($750k), PCC Stride Inc ($750k) and Society of Native Nations ($750k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 72% of the total. Other salaries and wages came to $92k. At year end it held assets of $490k against liabilities of $492k, net assets of -$2,060. It reported 45 employees.