31 Backpacks Inc

Analysis

31 Backpacks Inc is a registered charity in United States, based in Hancock, MI. It received its IRS tax-exemption ruling in April 2013, 13 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, 31 Backpacks Inc reported income of $146k and spending of $113k, leaving 23% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $84k to $146k (+73%), an average of +32% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, 31 Backpacks Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within MI. Charities of a similar size with the same main cause include Insignia Foundation ($146k), Needy Basket of Southern Miami County Inc ($146k) and Flowlovesyou Foundation ($146k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $35k against liabilities of $0, net assets of $35k.