Channel Industries Mutual Inc

Analysis

Channel Industries Mutual Inc is a registered charity in United States, based in Deer Park, TX. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. 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 December 2022, Channel Industries Mutual Inc reported income of $711k and spending of $814k, spending 114% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $321k to $711k (+122%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 125% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, Channel Industries Mutual Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Central Ventura County Fire Safe Council ($711k), Act Now Coalition ($711k) and Just Believe a NJ Nonprofit Corporation ($711k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 3.0% of the total. Other salaries and wages came to $63k. At year end it held assets of $2.1m against liabilities of $1.2m, net assets of $968k.