Independence Inc

Analysis

Independence Inc is a registered charity in United States, based in Lawrence, KS. It received its IRS tax-exemption ruling in September 1979, 47 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Independence Inc reported income of $5.6m and spending of $5.3m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.8m to $5.6m (+100%), an average of +19% a year. The sharpest change came in the year to September 2020, when income rose by 43%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Independence Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within KS. Charities of a similar size with the same main cause include Patrick Henry Family Services Operations Inc ($5.6m), Peoples Express Inc ($5.6m) and Latin Women in Action ($5.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $114k (2.2% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $4.0m against liabilities of $487k, net assets of $3.5m.