Bmi Foundation Inc

Analysis

Bmi Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1985, 41 years ago. 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, Bmi Foundation Inc reported income of $232k and spending of $401k, spending 173% of what it took in. Across the 5 years on record, from June 2019 to December 2023, income fell from $339k to $232k (-32%), an average of -9.1% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bmi Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include Mississippi Lifeline Inc ($232k), United States Auto Club Benevolent Association ($232k) and Volunteer Board of the Erie County Medical Center ($232k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. Other salaries and wages came to $77k. At year end it held assets of $2.8m against liabilities of $82k, net assets of $2.7m. It reported 2 employees.

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.