Independence Center Inc

Analysis

Independence Center Inc is a registered charity in United States, based in Waukegan, IL. It received its IRS tax-exemption ruling in December 1987, 39 years ago. Its declared purposes cover unknown, 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 June 2023, Independence Center Inc reported income of $2.3m and spending of $2.5m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $2.3m (+58%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independence Center Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Fresta Valley Christian School Ltd ($2.3m), Texas Cavaliers Charitable Foundation ($2.3m) and The Perry Institute for Marine Science Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $136k (5.4% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.9m against liabilities of $1.6m, net assets of $1.3m. It reported 47 employees.