The Balm in Gilead Inc

Analysis

The Balm in Gilead Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, The Balm in Gilead Inc reported income of $4.5m and spending of $3.0m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $4.5m (+74%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 77%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Balm in Gilead Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Harvard Law Review Association ($4.5m), Central Minnesota Housing Partnership Inc ($4.5m) and The Bedford School Inc ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $247k (8.3% of expenses). Other salaries and wages came to $474k. At year end it held assets of $2.5m against liabilities of $264k, net assets of $2.3m. It reported 5 employees.