Beam Center Inc

Analysis

Beam Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2013, 13 years ago. 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 August 2023, Beam Center Inc reported income of $4.2m and spending of $4.1m, spending 97% of its income. Across the 3 years on record, from August 2019 to August 2023, income grew from $2.5m to $4.2m (+69%), an average of +30% a year. The sharpest change came in the year to August 2023, when income rose by 51%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Beam Center Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Young Mens and Young Womens Hebrew Association of Williamsburg Inc ($4.2m), Resources Exchange Association ($4.2m) and Stewpot Community Services Inc ($4.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $70k (1.7% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $977k against liabilities of $671k, net assets of $306k. It reported 162 employees.