Tower Educational Consulting Group Inc

Analysis

Tower Educational Consulting Group Inc is a registered charity in United States, based in Lorain, OH. It received its IRS tax-exemption ruling in July 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Tower Educational Consulting Group Inc reported income of $576k and spending of $578k, spending 100% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $85k to $576k (+580%), an average of +161% a year. The sharpest change came in the year to December 2022, when income rose by 330%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Tower Educational Consulting Group Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within OH. Charities of a similar size with the same main cause include Abide in the Vine Child Care Center ($576k), New Canaan Group Home Inc ($577k) and Saint Stephen Development Corporation ($576k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $50k (8.7% of expenses). Other salaries and wages came to $311k. At year end it held assets of $136k against liabilities of $230k, net assets of -$94k.