Towards Employment Incorporated

Analysis

Towards Employment Incorporated is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 1988, 38 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, Towards Employment Incorporated reported income of $6.3m and spending of $6.3m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.2m to $6.3m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2021, when income rose by 26%. 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, Towards Employment Incorporated sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within OH. Charities of a similar size with the same main cause include United Workforce Development Board Inc ($6.3m), Technology Access Foundation ($6.3m) and H a C E ($6.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $296k (4.7% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $6.8m against liabilities of $1.5m, net assets of $5.3m. It reported 81 employees.