Building Futures III Inc

Analysis

Building Futures III Inc is a registered charity in United States, based in Norfolk, NE. It received its IRS tax-exemption ruling in June 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Building Futures III Inc reported income of $54k and spending of $82k, spending 153% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $52k to $54k (+4.1%), an average of +1.0% a year. Over the whole period it spent 141% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Building Futures III Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 18th percentile within NE. Charities of a similar size with the same main cause include Unseen Hand Ministries Inc ($54k), Presenting Denver ($54k) and Living Water Holistic Ministries Inc ($54k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $12k. At year end it held assets of $540k against liabilities of $11k, net assets of $529k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.