22beacon Inc

Analysis

22beacon Inc is a registered charity in United States, based in Hanover, MD. It received its IRS tax-exemption ruling in August 1998, 28 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, 22beacon Inc reported income of $25.0m and spending of $8.9m, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $20.3m to $25.0m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2021, when income rose by 202%. Over the whole period it spent 45% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, 22beacon Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Mast Community Charter School III ($25.0m), National College Advising Corps Inc ($25.0m) and Kipp Academy Charter School ($25.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $2.3m (26% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $153.8m against liabilities of $64.3m, net assets of $89.6m. It reported 21 employees.