Claret Center Inc

Analysis

Claret Center Inc is a registered charity in United States, based in Chicago, IL. 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 2023, Claret Center Inc reported income of $806k and spending of $808k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $664k to $806k (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Claret Center Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Herald of Truth Ministries Inc ($806k), Zebras Unite ($806k) and Bethune Nursery School Inc ($806k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $51k (6.3% of expenses). Other salaries and wages came to $243k. At year end it held assets of $301k against liabilities of $40k, net assets of $261k.