Lynchburg Beacon of Hope

Analysis

Lynchburg Beacon of Hope is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Lynchburg Beacon of Hope reported income of $1.1m and spending of $1.3m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.9m to $1.1m (-44%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 37%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lynchburg Beacon of Hope sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Mountain Sun Community School ($1.1m), Cypress College Foundation Inc ($1.1m) and Gertrude Walden Child Care Center Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $64k (4.9% of expenses). Other salaries and wages came to $494k. At year end it held assets of $5.0m against liabilities of $434k, net assets of $4.6m. It reported 10 employees.