Open Arms Child Development Center

Analysis

Open Arms Child Development Center is a registered charity in United States, based in Fairbanks, AK. It received its IRS tax-exemption ruling in February 2005, 21 years ago. 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 June 2023, Open Arms Child Development Center reported income of $2.0m and spending of $1.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $2.0m (-12%), an average of -3.3% a year. The sharpest change came in the year to June 2022, when income dropped by 23%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Open Arms Child Development Center sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within AK. Charities of a similar size with the same main cause include Maharishi Purusha Program ($2.0m), Martin County Convent Foundation Inc ($2.0m) and Boyertown Area Multi-Service Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $80k (4.8% of expenses). Other salaries and wages came to $794k. At year end it held assets of $1.6m against liabilities of $108k, net assets of $1.5m. It reported 62 employees.