Industrial Technology Institute

Analysis

Industrial Technology Institute is a registered charity in United States, based in Plymouth, MI. It received its IRS tax-exemption ruling in December 1981, 45 years ago. 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 December 2023, Industrial Technology Institute reported income of $12.0m and spending of $11.7m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.8m to $12.0m (+1.7%), an average of +0.4% a year. The sharpest change came in the year to December 2021, when income rose by 46%. 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, Industrial Technology Institute 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 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include The Stamford Emergency Medical Services Inc ($12.0m), Community Action Agency of South Alabama ($12.0m) and Vyazreim Inc ($12.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $630k (5.4% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $11.3m against liabilities of $3.6m, net assets of $7.7m. It reported 61 employees.