Thumb Industries Inc

Analysis

Thumb Industries Inc is a registered charity in United States, based in Bad Axe, MI. It received its IRS tax-exemption ruling in November 1970, 56 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 September 2023, Thumb Industries Inc reported income of $2.4m and spending of $1.9m, leaving 24% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.1m to $2.4m (+15%), an average of +3.6% a year. The sharpest change came in the year to September 2021, when income rose by 32%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Thumb Industries Inc sits at the 87th percentile: it is larger than about 87% 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 Iowa Operating Engineers Joint Apprenticeship and Training Fund ($2.4m), Lake County Community Development Corporation ($2.4m) and Mothers for Justice and Equality Inc ($2.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 17% and program service revenue 78% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $3.8m against liabilities of $272k, net assets of $3.5m. It reported 127 employees.