Brighter Tomorrows Inc

Analysis

Brighter Tomorrows Inc is a registered charity in United States, based in Shirley, NY. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Brighter Tomorrows Inc reported income of $2.9m and spending of $2.8m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.9m (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Brighter Tomorrows Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include A Caring Safe Place Inc ($2.9m), Assisi Homes-Jefferson Court Inc ($2.9m) and Tenants Development Corporation ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $236k (8.4% of expenses). Other salaries and wages came to $785k. At year end it held assets of $1.3m against liabilities of $315k, net assets of $1.0m. It reported 32 employees.