Centro Ararat Inc

Analysis

Centro Ararat Inc is a registered charity in United States, based in Ponce, PR. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Centro Ararat Inc reported income of $26.3m and spending of $26.0m, spending 99% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $28.5m to $26.3m (-7.6%), an average of -3.9% a year. The sharpest change came in the year to December 2022, when income dropped by 23%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Centro Ararat 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 98th percentile, and in the 95th percentile within PR. Charities of a similar size with the same main cause include Addgene Inc ($26.3m), The Blood Center ($26.3m) and Planned Parenthood of Southwest and Central Florida Inc ($26.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $624k (2.4% of expenses). Other salaries and wages came to $5.7m. At year end it held assets of $12.1m against liabilities of $2.6m, net assets of $9.5m. It reported 138 employees.