Mi Centro

Analysis

Mi Centro is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in July 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Mi Centro reported income of $3.3m and spending of $3.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $450k to $3.3m (+627%), an average of +64% a year. The sharpest change came in the year to June 2021, when income rose by 290%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mi Centro sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within WA. Charities of a similar size with the same main cause include Wesleyan Homes Foundation ($3.3m), Vine Faith in Action ($3.3m) and Agriculture and Land Based Training Association ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $88k (2.7% of expenses). Other salaries and wages came to $348k. At year end it held assets of $2.1m against liabilities of $83k, net assets of $2.1m. It reported 12 employees.