Bound for Glory

Analysis

Bound for Glory is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Bound for Glory reported income of $189k and spending of $117k, leaving 38% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $133k to $189k (+42%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bound for Glory sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within NC. Charities of a similar size with the same main cause include Riverway Homes Ltd ($189k), Elite Professional Foundation Inc ($189k) and Avoca Ambulance Association Inc ($189k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.7% of the total. At year end it held assets of $173k against liabilities of $492, net assets of $172k.