Skills USA Inc

Analysis

Skills USA Inc is a registered charity in United States, based in Leesburg, VA. It received its IRS tax-exemption ruling in June 1966, 60 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Skills USA Inc reported income of $20.2m and spending of $18.5m, spending 92% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $9.1m to $20.2m (+122%), an average of +22% a year. The sharpest change came in the year to August 2023, when income rose by 41%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Skills USA Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Thriving Wisconsin Inc ($20.1m), I Car Education Foundation ($20.2m) and Building Service Thomas Shortman Training Scholarship and ($20.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 48% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $396k (2.1% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $10.9m against liabilities of $1.4m, net assets of $9.5m. It reported 41 employees.