Growth Works Inc

Analysis

Growth Works Inc is a registered charity in United States, based in Plymouth, MI. It received its IRS tax-exemption ruling in April 1971, 55 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Growth Works Inc reported income of $16.2m and spending of $11.6m, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $16.0m to $16.2m (+1.5%), an average of +0.4% a year. The sharpest change came in the year to September 2023, when income rose by 16%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Growth Works 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 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Eprine Community Services Inc ($16.2m), Make the Road States Inc ($16.2m) and Young Mens Christian Association of Montclair ($16.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 5.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $496k (4.3% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $25.4m against liabilities of $389k, net assets of $25.0m. It reported 111 employees.