Boomcommunity Services Inc

Analysis

Boomcommunity Services Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in December 2015, 11 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 June 2023, Boomcommunity Services Inc reported income of $2.6m and spending of $0, leaving 100% of income unspent that year. Across the 6 years on record, from June 2018 to June 2023, income grew from $500k to $2.6m (+414%), an average of +39% a year. The sharpest change came in the year to June 2021, when income rose by 70343%. Over the whole period it spent 30% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Boomcommunity Services Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Horizons Unlimited of Palo Alto County Inc ($2.6m), Consumer Credit and Budget Counseling Inc ($2.6m) and Conejo Valley Senior Concerns ($2.6m).

At year end it held assets of $11.4m against liabilities of $6.7m, net assets of $4.7m.