Portage Industries Inc

Analysis

Portage Industries Inc is a registered charity in United States, based in Ravenna, OH. It received its IRS tax-exemption ruling in September 1982, 44 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 June 2023, Portage Industries Inc reported income of $3.1m and spending of $3.1m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $3.1m (+145%), an average of +25% a year. The sharpest change came in the year to June 2020, when income rose by 147%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Portage Industries Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within OH. Charities of a similar size with the same main cause include Madera County Workforce Investment Corporation ($3.1m), Accelerate 500 Inc ($3.1m) and Westcare Arizona I Inc ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $125k (4.0% of expenses). Other salaries and wages came to $941k. At year end it held assets of $4.0m against liabilities of $1.5m, net assets of $2.5m. It reported 83 employees.