Bright Community Trust Inc

Analysis

Bright Community Trust Inc is a registered charity in United States, based in Port Richey, FL. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Bright Community Trust Inc reported income of $2.1m and spending of $1.2m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.1m (+70%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bright Community Trust Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Gorman Towers Inc ($2.1m), Warren Housing Development Corporation ($2.1m) and Annie Schaffer Senior Center of Schenectady County Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $291k (25% of expenses). Other salaries and wages came to $140k. At year end it held assets of $14.9m against liabilities of $750k, net assets of $14.1m. It reported 6 employees.