Independence Industries

Analysis

Independence Industries is a registered charity in United States, based in Mount Vernon, OH. It received its IRS tax-exemption ruling in April 1978, 48 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Independence Industries reported income of $592k and spending of $554k, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $562k to $592k (+5.4%), an average of +1.3% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Independence Industries sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within OH. Charities of a similar size with the same main cause include Scriber Pointe Senior Housing Association ($592k), St Andrews Ascension Senior Housingestl Inc ($592k) and Hope Springs Incorporated ($591k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $93k. At year end it held assets of $616k against liabilities of $1.4m, net assets of -$740k.