Bags Foundation CT Inc

Analysis

Bags Foundation CT Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 June 2022, Bags Foundation CT Inc reported income of $1.2m and spending of $1.2m, spending 97% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $301k to $1.2m (+302%), an average of +59% a year. The sharpest change came in the year to June 2021, when income rose by 110%. Over the whole period it spent 98% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Bags Foundation CT Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Liahona Motu Foundation ($1.2m), Festival of Children Foundation Inc ($1.2m) and Steer for Student Athletes Inc ($1.2m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 84% and program service revenue 16% of the total. Other salaries and wages came to $744k. At year end it held assets of $138k against liabilities of $111k, net assets of $27k. It reported 46 employees.