Catholic Business Network of Montgomery County Scholarship

Analysis

Catholic Business Network of Montgomery County Scholarship is a registered charity in United States, based in Kensington, MD. It received its IRS tax-exemption ruling in October 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Catholic Business Network of Montgomery County Scholarship reported income of $197k and spending of $119k, leaving 40% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $53k to $197k (+272%), an average of +55% a year. The sharpest change came in the year to December 2020, when income rose by 97%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Catholic Business Network of Montgomery County Scholarship sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 53rd percentile within MD. Charities of a similar size with the same main cause include West Salem Band Boosters ($197k), Drama and Arts Preschool Inc ($197k) and Alpha Alpha Alpha ($197k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 138% of the total. At year end it held assets of $63k against liabilities of $2,500, net assets of $60k.