Bethesda Foundation

Analysis

Bethesda Foundation is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in February 1972, 54 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, Bethesda Foundation reported income of $49.0m and spending of $55.7m, spending 114% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $37.4m to $49.0m (+31%), an average of +7.0% a year. The sharpest change came in the year to September 2021, when income rose by 19%. Over the whole period it spent 110% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bethesda Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CO. Charities of a similar size with the same main cause include Vista Del Mar Child and Family Services ($49.0m), St Joseph Center ($49.1m) and Second Harvest Foodbank of Southern Wisconsin ($49.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $559k (1.0% of expenses). Other salaries and wages came to $22.7m. At year end it held assets of $109.6m against liabilities of $110.9m, net assets of -$1.3m. It reported 1,686 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.