Able Industries Inc

Analysis

Able Industries Inc is a registered charity in United States, based in Visalia, CA. It received its IRS tax-exemption ruling in August 1964, 62 years ago. Its declared purposes cover employment, 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 June 2023, Able Industries Inc reported income of $4.2m and spending of $4.2m, spending 98% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $4.3m to $4.2m (-0.1%), an average of +-0.0% a year. The sharpest change came in the year to June 2022, when income dropped by 18%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Able Industries Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Trust Neighborhoods ($4.2m), Growing Home Inc ($4.2m) and Midwest Business Finance Corporation ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.9% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $114k (2.7% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $7.0m against liabilities of $3.0m, net assets of $4.0m. It reported 174 employees.