Worth Industries Inc

Analysis

Worth Industries Inc is a registered charity in United States, based in Saint Louis, MO. It received its IRS tax-exemption ruling in September 1983, 43 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Worth Industries Inc reported income of $977k and spending of $1.1m, spending 108% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1000k to $977k (-2.3%), an average of -0.6% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Worth Industries Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within MO. Charities of a similar size with the same main cause include New Alpha Community Development Corporation ($977k), Fresh Coast Alliance ($977k) and Hunter Foundation Inc ($977k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 38% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $163k (15% of expenses). Other salaries and wages came to $495k. At year end it held assets of $1.0m against liabilities of $30k, net assets of $985k. It reported 48 employees.

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.