The Training Source Inc

Analysis

The Training Source Inc is a registered charity in United States, based in Seat Pleasant, MD. It received its IRS tax-exemption ruling in June 1994, 32 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Training Source Inc reported income of $712k and spending of $632k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $622k to $712k (+15%), an average of +3.5% a year. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Training Source Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MD. Charities of a similar size with the same main cause include Kansas Honor Flight Inc ($712k), Anderson Valley Apple Show and Fair ($712k) and YWCA Great Falls ($712k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $194k (31% of expenses). Other salaries and wages came to $108k. At year end it held assets of $3.1m against liabilities of $107k, net assets of $3.0m. It reported 4 employees.