Bank Board Small Savers

Analysis

Bank Board Small Savers is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 1987, 39 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 2024, Bank Board Small Savers reported income of $1.9m and spending of $1.4m, leaving 26% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.2m to $1.9m (+59%), an average of +9.7% a year. The sharpest change came in the year to June 2024, when income rose by 43%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bank Board Small Savers sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 66th percentile within DC. Charities of a similar size with the same main cause include Women Together Foundation Inc ($1.9m), Pinewood-Cloquet Inc ($1.9m) and Tomchei Shabbos-Yad Yeshaya Inc ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 16% and program service revenue 82% of the total. Other salaries and wages came to $926k. At year end it held assets of $1.3m against liabilities of $121, net assets of $1.3m. It reported 18 employees.