Business Outreach Center Network Inc

Analysis

Business Outreach Center Network Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Business Outreach Center Network Inc reported income of $3.9m and spending of $3.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.9m to $3.9m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2020, when income rose by 43%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Outreach Center Network Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Accessability Inc ($3.9m), Masshire North Central Workforce Board Inc ($3.9m) and Grace Institute of New York Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $383k (9.9% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $4.2m against liabilities of $1.2m, net assets of $3.0m. It reported 66 employees.