Western Reserve Community Fund Inc

Analysis

Western Reserve Community Fund Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in October 2019, 7 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 (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 2023, Western Reserve Community Fund Inc reported income of $3.4m and spending of $1.4m, leaving 59% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $3.4m (+213%), an average of +33% a year. The sharpest change came in the year to December 2022, when income rose by 107%. Over the whole period it spent 27% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Western Reserve Community Fund Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Umb Health Sciences Research Park Corporation ($3.4m), Capc-Asm ($3.4m) and Northern Illinois Electrical Joint Apprenticeship and Training Trust ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 4.8% of the total. At year end it held assets of $11.6m against liabilities of $3.4m, net assets of $8.3m.