Bread of Life Inc

Analysis

Bread of Life Inc is a registered charity in United States, based in Malden, MA. It received its IRS tax-exemption ruling in January 1993, 33 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Bread of Life Inc reported income of $1.3m and spending of $908k, leaving 31% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $2.0m to $1.3m (-34%), an average of -13% a year. The sharpest change came in the year to December 2023, when income dropped by 56%. Over the whole period it spent 37% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Bread of Life Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Youth with a Mission-Maui Inc ($1.3m), Rebuilt Parish Inc ($1.3m) and Horn of Africa Mission ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $392k. At year end it held assets of $6.4m against liabilities of $270k, net assets of $6.1m. It reported 23 employees.