Transcen Inc

Analysis

Transcen Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in February 1988, 38 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 September 2023, Transcen Inc reported income of $3.8m and spending of $3.3m, spending 87% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $4.4m to $3.8m (-14%), an average of -3.8% a year. The sharpest change came in the year to September 2023, when income rose by 41%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Transcen 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 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Access Incorporated ($3.8m), Truth Spring Incorporated ($3.8m) and Council of Community Services ($3.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 37% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $257k (7.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.6m against liabilities of $773k, net assets of $1.9m. It reported 46 employees.