Worcester Area Business Education Foundation Inc

Analysis

Worcester Area Business Education Foundation Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Worcester Area Business Education Foundation Inc reported income of $2.0m and spending of $1.1m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $20k to $2.0m (+9934%), an average of +216% a year. The sharpest change came in the year to December 2020, when income rose by 3473%. Over the whole period it spent 59% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Worcester Area Business Education Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Low Impact Development Center Inc ($2.0m), Tutoring Chicago ($2.0m) and The Sands Point Preserve Conservancy ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 7.0% of the total. At year end it held assets of $2.9m against liabilities of $832k, net assets of $2.1m.