Bestwork Industries for the Blind Inc

Analysis

Bestwork Industries for the Blind Inc is a registered charity in United States, based in Cherry Hill, NJ. It received its IRS tax-exemption ruling in February 1982, 44 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Bestwork Industries for the Blind Inc reported income of $6.5m and spending of $7.3m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $7.9m to $6.5m (-17%), an average of -4.7% a year. The sharpest change came in the year to September 2021, when income rose by 59%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bestwork Industries for the Blind Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Waccamaw Community Foundation Inc ($6.5m), Fayco Enterprises Inc ($6.6m) and City of Muskogee Foundation ($6.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 3.9% of the total. Compensation of current officers, directors and key employees was $291k (4.0% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $12.9m against liabilities of $3.9m, net assets of $9.1m. It reported 109 employees.