Beloit Meals-On-Wheels Inc

Analysis

Beloit Meals-On-Wheels Inc is a registered charity in United States, based in Beloit, WI. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Beloit Meals-On-Wheels Inc reported income of $500k and spending of $512k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $383k to $500k (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2022, when income rose by 227%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Beloit Meals-On-Wheels Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within WI. Charities of a similar size with the same main cause include Not on My Watch Inc ($500k), Emerald Foundation Inc ($501k) and Dundee Senior Citizens Center Inc ($500k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $72k (14% of expenses). Other salaries and wages came to $90k. At year end it held assets of $1.9m against liabilities of $33k, net assets of $1.9m. It reported 9 employees.