Project Learn of Summit County

Analysis

Project Learn of Summit County is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in December 1988, 38 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 June 2023, Project Learn of Summit County reported income of $1.1m and spending of $1.2m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $999k to $1.1m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2020, when income dropped by 15%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project Learn of Summit County sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Central Clinic Inc ($1.1m), St Charles Aquatics ($1.1m) and Long Beach Communuty-Improvement League ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $93k (7.8% of expenses). Other salaries and wages came to $793k. At year end it held assets of $375k against liabilities of $54k, net assets of $321k. It reported 61 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.