Gear Research Institute

Analysis

Gear Research Institute is a registered charity in United States, based in State College, PA. It received its IRS tax-exemption ruling in June 1984, 42 years ago. 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 August 2023, Gear Research Institute reported income of $953k and spending of $870k, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $630k to $953k (+51%), an average of +11% a year. The sharpest change came in the year to August 2023, when income rose by 95%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gear Research Institute sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include Palmyra Ambulance Association of Palmyra NJ ($952k), Community Ballet Association of Huntsville Inc ($953k) and Meals on Wheels of Palestine Inc ($952k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 1.0% and program service revenue 95% of the total. At year end it held assets of $2.7m against liabilities of $2.4m, net assets of $363k.