Detroit Ringo Kai

Analysis

Detroit Ringo Kai is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in August 1992, 34 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Detroit Ringo Kai reported income of $2.0m and spending of $1.9m, spending 96% of its income. Across the 5 years on record, from March 2020 to March 2024, income fell from $2.2m to $2.0m (-9.0%), an average of -2.3% a year. The sharpest change came in the year to March 2022, when income rose by 68%. 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, Detroit Ringo Kai sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Eurasia Partners Network Inc ($2.0m), Charitable Allies Inc ($2.0m) and The Bruce Harter Learning Pavilion Inc ($2.0m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 17% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $102k (5.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $4.1m against liabilities of $1.9m, net assets of $2.2m. It reported 102 employees.