The Charles Lea Industrial Corporation

Analysis

The Charles Lea Industrial Corporation is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in February 1987, 39 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Charles Lea Industrial Corporation reported income of $909k and spending of $963k, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $909k (-24%), an average of -6.5% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Charles Lea Industrial Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within SC. Charities of a similar size with the same main cause include Ella Curran Community Food Bank ($909k), State University College at Buffalo Child Day Care Dev Facility Inc ($909k) and Four Mile Historic Park Inc ($909k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $458k. At year end it held assets of $243k against liabilities of $99k, net assets of $144k. It reported 130 employees.