Business Industry Foundation of Middlesex County Inc

Analysis

Business Industry Foundation of Middlesex County Inc is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in April 1987, 39 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 June 2023, Business Industry Foundation of Middlesex County Inc reported income of $782k and spending of $702k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $678k to $782k (+15%), an average of +3.7% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business Industry Foundation of Middlesex County Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include National Alliance of Community Economic Development Associations ($782k), Muhlenberg Economic Growth Alliance ($783k) and Michigan Economic Development Foundation ($782k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $115k. At year end it held assets of $909k against liabilities of $293k, net assets of $616k. It reported 97 employees.