The Beacon Place NFP

Analysis

The Beacon Place NFP is a registered charity in United States, based in Waukegan, IL. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover human services, 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, The Beacon Place NFP reported income of $932k and spending of $1.0m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $706k to $932k (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2020, when income rose by 56%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Beacon Place NFP sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Frost & Sullivan Holding Institute ($932k), Forrest Valley Daycare Center Inc ($932k) and Homes for Children Foundation ($932k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $600k. At year end it held assets of $1.6m against liabilities of $57k, net assets of $1.5m. It reported 25 employees.

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.