Building Futures Inc

Analysis

Building Futures Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in May 2017, 9 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 March 2023, Building Futures Inc reported income of $1.8m and spending of $1.7m, spending 96% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $360k to $1.8m (+387%), an average of +70% a year. The sharpest change came in the year to March 2021, when income rose by 120%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Building Futures Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Fame Assistance Corporation ($1.8m), Alternatives to Violence Inc ($1.8m) and Maine Aquaculture Innovation Center ($1.8m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 38% of the total. Other salaries and wages came to $171k. At year end it held assets of $14.9m against liabilities of $14.5m, net assets of $450k.