Bit Community Center Inc

Analysis

Bit Community Center Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in October 1999, 27 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Bit Community Center Inc reported income of $145k and spending of $251k, spending 173% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income fell from $327k to $145k (-56%), an average of -33% a year. The sharpest change came in the year to December 2023, when income dropped by 68%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bit Community Center Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 47th percentile within MD. Charities of a similar size with the same main cause include No Limits Dance Foundation ($145k), Vicksburg Foundation for Historic Preservation ($145k) and The Newnan Coweta Historical Society Inc Permanent Endowment ($145k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $67k (27% of expenses). Other salaries and wages came to $63k. At year end it held assets of $88k against liabilities of $40k, net assets of $47k. It reported 1 employees.