Cleveland Hearing and Speech Center

Analysis

Cleveland Hearing and Speech Center is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in February 1955, 71 years ago. 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, Cleveland Hearing and Speech Center reported income of $8.3m and spending of $7.6m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.4m to $8.3m (+54%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cleveland Hearing and Speech Center sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Gerontological Society of America ($8.3m), Ranch Recovery Centers Inc ($8.3m) and Great Oaks Foundation Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $186k (2.4% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $11.3m against liabilities of $720k, net assets of $10.5m. It reported 80 employees.