Bit-By-Bit Inc

Analysis

Bit-By-Bit Inc is a registered charity in United States, based in Davie, FL. It received its IRS tax-exemption ruling in January 2002, 24 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 December 2023, Bit-By-Bit Inc reported income of $775k and spending of $659k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $645k to $775k (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bit-By-Bit Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Montis Residential ($775k), Special Day Foundation Inc ($775k) and Good Samaritan Pharmacy & Health Services Inc ($775k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $233k (35% of expenses). It paid $117k in professional fundraising fees. At year end it held assets of $810k against liabilities of $212k, net assets of $598k. It reported 4 employees.