Believe in Bristol Va Inc

Analysis

Believe in Bristol Va Inc is a registered charity in United States, based in Bristol, TN. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, 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, Believe in Bristol Va Inc reported income of $214k and spending of $276k, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $147k to $214k (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2022, when income rose by 107%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Believe in Bristol Va Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 56th percentile within TN. Charities of a similar size with the same main cause include Haverhill Heritage Inc ($214k), Action Brown County Inc ($214k) and Brunswick Area Respite Program ($214k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $48k (17% of expenses). Other salaries and wages came to $36k. At year end it held assets of $85k against liabilities of $24k, net assets of $61k.