Akron Summit Community Action Agency

Analysis

Akron Summit Community Action Agency is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in August 1966, 60 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, Akron Summit Community Action Agency reported income of $24.8m and spending of $25.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.7m to $24.8m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. 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, Akron Summit Community Action Agency sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within OH. Charities of a similar size with the same main cause include Hudson Institute Inc ($24.8m), Family Services Inc ($24.8m) and Life St Joseph of the Pines Inc ($24.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $474k (1.9% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $10.0m against liabilities of $6.2m, net assets of $3.8m. It reported 259 employees.