Industrial Arts Institute Inc

Analysis

Industrial Arts Institute Inc is a registered charity in United States, based in Onaway, MI. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Industrial Arts Institute Inc reported income of $942k and spending of $813k, spending 86% of its income. Across the 6 years on record, from March 2019 to March 2024, income fell from $995k to $942k (-5.3%), an average of -1.1% a year. The sharpest change came in the year to March 2022, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Industrial Arts Institute 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 79th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Montessori Accreditation Council for Teacher Education Inc ($942k), Fort Wayne Montessori Association Inc ($942k) and United Hands Inc ($942k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 37% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $83k (10% of expenses). Other salaries and wages came to $193k. At year end it held assets of $929k against liabilities of $89k, net assets of $840k. It reported 8 employees.