Marimor Industries Inc

Analysis

Marimor Industries Inc is a registered charity in United States, based in Lima, OH. It received its IRS tax-exemption ruling in October 1972, 54 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Marimor Industries Inc reported income of $4.2m and spending of $4.1m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.4m to $4.2m (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Marimor Industries Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Open Avenues Foundation ($4.2m), Midwest Business Finance Corporation ($4.2m) and Magnet Lending Corporation ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $83k (2.0% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $4.0m against liabilities of $314k, net assets of $3.7m. It reported 206 employees.