Center Industries Corporation

Analysis

Center Industries Corporation is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in May 1978, 48 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 2023, Center Industries Corporation reported income of $34.2m and spending of $35.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $46.7m to $34.2m (-27%), an average of -7.5% a year. The sharpest change came in the year to June 2020, when income dropped by 30%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Center Industries Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within KS. Charities of a similar size with the same main cause include International Foundation of Employee Benefit Plans Inc ($34.2m), Cicp Foundation Inc ($34.4m) and Goodwill Industries Inc ($33.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $410k (1.2% of expenses). Other salaries and wages came to $861k. At year end it held assets of $41.7m against liabilities of $3.5m, net assets of $38.1m. It reported 154 employees.