Transit System Inc

Analysis

Transit System Inc is a registered charity in United States, based in Glen Rose, TX. It received its IRS tax-exemption ruling in November 1993, 33 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 August 2023, Transit System Inc reported income of $2.1m and spending of $1.5m, leaving 26% of income unspent that year. Across the 4 years on record, from August 2020 to August 2023, income grew from $1.3m to $2.1m (+57%), an average of +16% a year. The sharpest change came in the year to August 2021, when income rose by 43%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Transit System Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Henderson County Rescue Squad ($2.1m), Parent Information Center of Delaware Inc ($2.1m) and Mercy House Inc ($2.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $69k (4.5% of expenses). Other salaries and wages came to $529k. At year end it held assets of $3.1m against liabilities of $75k, net assets of $3.1m. It reported 25 employees.