Believers United for Progress

Analysis

Believers United for Progress is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in October 2008, 18 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, Believers United for Progress reported income of $148k and spending of $267k, spending 180% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $304k to $148k (-51%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 53%. Over the whole period it spent 135% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Believers United for Progress sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NC. Charities of a similar size with the same main cause include Bike Saviours Cooperative Inc ($148k), Hands of Hope Foundation ($148k) and Garrison Area Resource Center & Food Pantry ($148k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $295k against liabilities of $70k, net assets of $225k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.