Industrial Sewing and Innovation Center Isaic

Analysis

Industrial Sewing and Innovation Center Isaic is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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 September 2023, Industrial Sewing and Innovation Center Isaic reported income of $2.1m and spending of $2.3m, spending 108% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $475k to $2.1m (+352%), an average of +46% a year. The sharpest change came in the year to September 2020, when income rose by 211%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Industrial Sewing and Innovation Center Isaic sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include National Association for Gifted Children ($2.1m), Pearl River Community College Development Foundation Inc ($2.1m) and Western Great Lakes Finishing Trades Institute ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 82% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $194k (8.3% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $1.0m against liabilities of $1.2m, net assets of -$154k. It reported 41 employees.