Fort Madison Sirrc Corporation

Analysis

Fort Madison Sirrc Corporation is a registered charity in United States, based in Fort Madison, IA. It received its IRS tax-exemption ruling in May 1998, 28 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 December 2023, Fort Madison Sirrc Corporation reported income of $456k and spending of $567k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $404k to $456k (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2021, when income rose by 50%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fort Madison Sirrc Corporation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within IA. Charities of a similar size with the same main cause include Chamber Foundation ($455k), Urban Collaborative Project ($456k) and Northeast Neighborhood Revitalization Organizations Inc ($455k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $569k against liabilities of $0, net assets of $569k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.