Turnaround Inc

Analysis

Turnaround Inc is a registered charity in United States, based in Towson, MD. It received its IRS tax-exemption ruling in February 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Turnaround Inc reported income of $4.6m and spending of $4.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $4.6m (+122%), an average of +22% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Turnaround Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within MD. Charities of a similar size with the same main cause include Family Service of Rochester Inc ($4.6m), First Fruits Farm Inc ($4.6m) and There Is Hope Incorporated ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $167k (3.7% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $2.7m against liabilities of $1.2m, net assets of $1.5m. It reported 79 employees.