Vector Industries Inc

Analysis

Vector Industries Inc is a registered charity in United States, based in Waynesboro, VA. It received its IRS tax-exemption ruling in March 1970, 56 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 December 2023, Vector Industries Inc reported income of $1.3m and spending of $1.6m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $1.3m (-28%), an average of -8.0% a year. The sharpest change came in the year to December 2023, when income dropped by 45%. 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, Vector Industries Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Jewish Council on Urban Affairs ($1.3m), Assistance League of Huntington Beach ($1.3m) and Human Resource Development & Employment Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $123k (7.9% of expenses). Other salaries and wages came to $811k. At year end it held assets of $728k against liabilities of $108k, net assets of $620k. It reported 59 employees.