Future Business Leaders of America Phi Beta Lambda Inc

Analysis

Future Business Leaders of America Phi Beta Lambda Inc is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in October 1971, 55 years ago. 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 June 2023, Future Business Leaders of America Phi Beta Lambda Inc reported income of $18.3m and spending of $17.3m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.7m to $18.3m (+9.9%), an average of +2.4% a year. The sharpest change came in the year to June 2022, when income rose by 216%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Future Business Leaders of America Phi Beta Lambda Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Community Action PRGM Corp of Washington-Morgan Counties Ohio ($18.3m), Mid Michigan Community Action Agency Inc ($18.3m) and Highland-Valley Elder Services Inc ($18.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.9% and program service revenue 93% of the total. Other salaries and wages came to $485k. At year end it held assets of $9.8m against liabilities of $0, net assets of $9.8m. It reported 22 employees.