KB Foundation of Texas

Analysis

KB Foundation of Texas is a registered charity in United States, based in Harlingen, TX. It received its IRS tax-exemption ruling in November 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, KB Foundation of Texas reported income of $1.3m and spending of $1.1m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.3m (+14%), an average of +3.2% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, KB Foundation of Texas sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Community & Employment Links ($1.3m), Apex Professional Services Inc ($1.3m) and Chevra Gemach Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $240k (21% of expenses). Other salaries and wages came to $120k. At year end it held assets of $2.6m against liabilities of $1.4m, net assets of $1.2m. It reported 2 employees.