Deepwood Industries Inc

Analysis

Deepwood Industries Inc is a registered charity in United States, based in Mentor, OH. It received its IRS tax-exemption ruling in August 1964, 62 years ago. 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, Deepwood Industries Inc reported income of $1.4m and spending of $1.2m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $791k to $1.4m (+77%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Deepwood Industries Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Mosaic Counseling ($1.4m), Habitat for Humanity International Inc ($1.4m) and Racine County Agricultural Society Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 42% of the total. Other salaries and wages came to $689k. At year end it held assets of $1.0m against liabilities of $41k, net assets of $975k. It reported 117 employees.