College Bound Inc

Analysis

College Bound Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. 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, College Bound Inc reported income of $1.3m and spending of $1.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $633k to $1.3m (+99%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 61%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, College Bound Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 59th percentile within DC. Charities of a similar size with the same main cause include Our Academy ($1.3m), Larraine Segil Scholars Foundation ($1.3m) and Measure Austin ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $168k (14% of expenses). Other salaries and wages came to $334k. At year end it held assets of $880k against liabilities of $124k, net assets of $755k. It reported 10 employees.