Weaver Industries Inc

Analysis

Weaver Industries Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in February 1974, 52 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Weaver Industries Inc reported income of $8.0m and spending of $8.9m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.3m to $8.0m (-3.5%), an average of -0.9% a year. The sharpest change came in the year to December 2022, when income dropped by 16%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Weaver Industries Inc 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 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Trillium Employment Services ($8.0m), Goodwill Industries Serving Southeast Nebraska Inc ($8.0m) and Virginia Beach Community Development Corporation ($7.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.5% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $329k (3.7% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $5.7m against liabilities of $3.0m, net assets of $2.7m. It reported 325 employees.