Skills Development Inc

Analysis

Skills Development Inc is a registered charity in United States, based in Hannibal, MO. It received its IRS tax-exemption ruling in October 1980, 46 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, Skills Development Inc reported income of $1.0m and spending of $451k, leaving 55% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $380k to $1.0m (+165%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 71%. Over the whole period it spent 61% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Skills Development 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 Capital Region Economic Developement Corporation ($1.0m), CTC Manufacturing Inc ($1.0m) and Soho Broaadway District Management Association ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $155k (34% of expenses). Other salaries and wages came to $166k. At year end it held assets of $2.0m against liabilities of $766, net assets of $2.0m. It reported 11 employees.