SVRC Industries Inc

Analysis

SVRC Industries Inc is a registered charity in United States, based in Saginaw, MI. It received its IRS tax-exemption ruling in June 1967, 59 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, SVRC Industries Inc reported income of $10.1m and spending of $10.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.0m to $10.1m (+1.4%), an average of +0.4% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, SVRC Industries Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Opportunity Works Inc ($10.1m), Michigan Statewide Carpenters and Millwrights Jatc Fund ($10.1m) and Aspire Inc ($10.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $659k (6.5% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $30.4m against liabilities of $13.9m, net assets of $16.5m. It reported 233 employees.