Bam Endowment Trust

Analysis

Bam Endowment Trust is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Bam Endowment Trust reported income of $1.4m and spending of $12.6m, spending 891% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $1.4m (-52%), an average of -17% a year. The sharpest change came in the year to June 2021, when income rose by 218%. Over the whole period it spent 248% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bam Endowment Trust sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include International Theological Seminary ($1.4m), Careers Support Solutions Inc ($1.4m) and Helping Our People in Elsinore Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% of the total. At year end it held assets of $91.9m against liabilities of $11k, net assets of $91.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.