Cereal City Development Corporation Kellogg Arena

Analysis

Cereal City Development Corporation Kellogg Arena is a registered charity in United States, based in Battle Creek, MI. It received its IRS tax-exemption ruling in June 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cereal City Development Corporation Kellogg Arena reported income of $1.6m and spending of $1.7m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.9m to $1.6m (-18%), an average of -4.9% a year. The sharpest change came in the year to June 2020, when income dropped by 38%. 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, Cereal City Development Corporation Kellogg Arena sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MI. Charities of a similar size with the same main cause include Center Redevelopmemt Corporation ($1.6m), Inland Futures Foundation of the San Bernardino Community College ($1.6m) and Multi-Cultural Foodservice & Hospitality Alliance ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $89k (5.1% of expenses). Other salaries and wages came to $781k. At year end it held assets of $463k against liabilities of $87k, net assets of $376k. It reported 87 employees.