Careers Industries Inc

Analysis

Careers Industries Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in January 1972, 54 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 December 2023, Careers Industries Inc reported income of $3.3m and spending of $3.6m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.9m to $3.3m (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Careers Industries Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within WI. Charities of a similar size with the same main cause include The Chehalis Foundation ($3.3m), Hudson Yards Hells Kitchen Business Improvement District Inc ($3.3m) and Valley Initiative for Development and Advancement ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $145k (4.0% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $3.8m against liabilities of $1.6m, net assets of $2.2m. It reported 250 employees.