Truth in Accounting

Analysis

Truth in Accounting is a registered charity in United States, based in Glencoe, IL. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Truth in Accounting reported income of $215k and spending of $239k, spending 111% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $763k to $215k (-72%), an average of -22% a year. The sharpest change came in the year to December 2022, when income dropped by 71%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Truth in Accounting sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 56th percentile within IL. Charities of a similar size with the same main cause include Mountain West Ballet ($215k), Georgia Education Articulation Committee Inc ($215k) and Norway-Vulcan Senior Citizens Cente R Inc ($215k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.8% of the total. Other salaries and wages came to $34k. At year end it held assets of $199k against liabilities of $0, net assets of $199k. It reported 1 employees.