SB Works

Analysis

SB Works is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 2015, 11 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 (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, SB Works reported income of $915k and spending of $666k, leaving 27% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $614k to $915k (+49%), an average of +8.3% a year. The sharpest change came in the year to December 2020, when income dropped by 42%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, SB Works sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 53rd percentile within DC. Charities of a similar size with the same main cause include Greater Franklin Development Council ($914k), Maryland Kenyans Organization ($915k) and Brunswick County Economic Development Foundation Inc ($914k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $303k (46% of expenses). At year end it held assets of $536k against liabilities of $0, net assets of $536k. It reported 4 employees.