Garage at Cleveland Corner Inc

Analysis

Garage at Cleveland Corner Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in October 2018, 8 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, Garage at Cleveland Corner Inc reported income of $111k and spending of $124k, spending 112% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $131k to $111k (-15%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 15%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Garage at Cleveland Corner Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within KS. Charities of a similar size with the same main cause include LA Crosse Neighborhoods ($111k), Missouri Center for Employee Ownership ($111k) and Friends of Partners in Prevention ($111k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. At year end it held assets of $178k against liabilities of $30k, net assets of $148k.