Michigan Barber School Inc

Analysis

Michigan Barber School Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1949, 77 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Michigan Barber School Inc reported income of $2.4m and spending of $2.1m, spending 89% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $1.4m to $2.4m (+73%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 84%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Michigan Barber School Inc sits at the 87th 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 88th percentile within MI. Charities of a similar size with the same main cause include Boy Scouts of America ($2.4m), Great Lakes Historical Society ($2.4m) and Rabat American School Association Inc ($2.4m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 58% and program service revenue 42% of the total. Other salaries and wages came to $251k. At year end it held assets of $890k against liabilities of $189k, net assets of $702k. It reported 9 employees.