Black & Gold Classic Inc

Analysis

Black & Gold Classic Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in July 2022, 4 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 January 2024, Black & Gold Classic Inc reported income of $54k and spending of $76k, spending 140% of what it took in. Across the 3 years on record, from January 2022 to January 2024, income fell from $152k to $54k (-64%), an average of -40% a year. The sharpest change came in the year to January 2024, when income dropped by 55%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Black & Gold Classic 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 21st percentile within LA. Charities of a similar size with the same main cause include Cherokee County Child and Family Service Board ($54k), Acts of Love Early Childhood Education Center ($54k) and Krishnaa Foundation Inc ($54k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 113% of the total. At year end it held assets of $23k against liabilities of $0, net assets of $23k.