University Circle Incorporated

Analysis

University Circle Incorporated is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 1958, 68 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 June 2023, University Circle Incorporated reported income of $9.2m and spending of $11.2m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.3m to $9.2m (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2021, when income rose by 80%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, University Circle Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include African American Alliance of Cdfi Ceos Inc ($9.1m), Goodwill Legacy Group Foundation Inc ($9.2m) and Allies for Community Business Inc ($9.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $615k (5.5% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $46.9m against liabilities of $4.6m, net assets of $42.3m. It reported 98 employees.