Cleveland Vocational Industries

Analysis

Cleveland Vocational Industries is a registered charity in United States, based in Shelby, NC. It received its IRS tax-exemption ruling in July 1985, 41 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 June 2023, Cleveland Vocational Industries reported income of $3.4m and spending of $2.7m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $3.4m (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cleveland Vocational Industries 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 91st percentile within NC. Charities of a similar size with the same main cause include Southwest Minnesota Private Industry Council Inc ($3.4m), Mt Carmel Veterans Service Center ($3.4m) and Capc-Asm ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $129k (4.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $3.0m against liabilities of $1.3m, net assets of $1.7m.