Udac Inc

Analysis

Udac Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in March 1967, 59 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, Udac Inc reported income of $1.5m and spending of $1.4m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $1.5m (-43%), an average of -13% a year. The sharpest change came in the year to December 2020, when income dropped by 53%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Udac Inc 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 83rd percentile within MN. Charities of a similar size with the same main cause include H L Neblett Community Center Inc ($1.5m), Cache Education Foundation ($1.5m) and Brookline Improvement Coalition Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $94k (6.5% of expenses). Other salaries and wages came to $769k. At year end it held assets of $5.4m against liabilities of $210k, net assets of $5.2m. It reported 35 employees.