Bomi International 457 B Plan

Analysis

Bomi International 457 B Plan is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in December 1970, 56 years ago. The IRS classifies it as a suspense under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Bomi International 457 B Plan reported income of $3.3m and spending of $3.1m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $3.7m to $3.3m (-11%), an average of -3.7% a year. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bomi International 457 B Plan sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within MD. Charities of a similar size with the same main cause include Music USA Festivals Inc ($3.3m), Jewish Cemeteries of Greater Cincinnati Inc ($3.3m) and Community Service Foundation ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $190k (6.2% of expenses). Other salaries and wages came to $866k. At year end it held assets of $4.5m against liabilities of $2.0m, net assets of $2.5m. It reported 21 employees.