Clare Towers Inc

Analysis

Clare Towers Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 June 2024, Clare Towers Inc reported income of $2.0m and spending of $1.7m, spending 87% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.8m to $2.0m (+11%), an average of +2.7% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Clare Towers Inc 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 WI. Charities of a similar size with the same main cause include Rebuilding Together-Nashville ($2.0m), Joseph T Simpson Public Library ($2.0m) and Kingsway Elementary School ($2.0m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $448k. At year end it held assets of $2.1m against liabilities of $6.0m, net assets of -$3.9m.