Believe in Me

Analysis

Believe in Me is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in September 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 December 2023, Believe in Me reported income of $173k and spending of $1.2m, spending 695% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $515k to $173k (-66%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 53%. Over the whole period it spent 340% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Believe in Me 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 51st percentile, and in the 47th percentile within WA. Charities of a similar size with the same main cause include Martin Luther King Jr Parade Foundation Inc ($173k), Lakeland Police Foundation Incorporated ($173k) and Newton Ministerial Alliance Inc ($173k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 186% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $153k (13% of expenses). Other salaries and wages came to $238k. At year end it held assets of $7.3m against liabilities of $265k, net assets of $7.0m. It reported 9 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.