Second Chance Inc

Analysis

Second Chance Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in May 2001, 25 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Second Chance Inc reported income of $13.2m and spending of $13.2m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.9m to $13.2m (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Second Chance 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 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include On Our Own Services Inc Welfare TR ($13.1m), Lumibility Inc ($13.2m) and World Business Chicago ($13.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $930k (7.0% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $23.3m against liabilities of $5.5m, net assets of $17.7m. It reported 232 employees.