Centro de Economia Creativa Inc

Analysis

Centro de Economia Creativa Inc is a registered charity in United States, based in San Juan, PR. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 de Economia Creativa Inc reported income of $5.9m and spending of $4.0m, leaving 33% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $4.2m to $5.9m (+39%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 378%. Over the whole period it spent 54% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Centro de Economia Creativa Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 89th percentile within PR. Charities of a similar size with the same main cause include Polk County Workforce Development Board Inc ($5.9m), Fruitvale Development Corporation Inc ($5.9m) and Renaissance Development Fund ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $118k (3.0% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $5.3m against liabilities of $36k, net assets of $5.3m. It reported 71 employees.