Become Inc

Analysis

Become Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Become Inc reported income of $802k and spending of $1.2m, spending 155% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $320k to $802k (+151%), an average of +36% a year. The sharpest change came in the year to December 2021, when income rose by 362%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Become Inc 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 77th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Urban Vision ($802k), Hometown Organizing Project ($802k) and Tyler Economic Development Council ($802k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $125k (10% of expenses). Other salaries and wages came to $427k. At year end it held assets of $644k against liabilities of $201k, net assets of $443k.