Bosma Industries for the Blind Inc

Analysis

Bosma Industries for the Blind Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in January 1989, 37 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Bosma Industries for the Blind Inc reported income of $95.3m and spending of $90.1m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $74.2m to $95.3m (+28%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bosma Industries for the Blind Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Goodwill Industries Manasota Inc ($94.8m), Lower Rio Grande Valley Work Force Development Board Inc ($95.4m) and Goodwill of the Olympics and Rainier Region ($93.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.5% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.4m (2.6% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $94.0m against liabilities of $7.5m, net assets of $86.5m. It reported 234 employees.