Beans and Rice Inc

Analysis

Beans and Rice Inc is a registered charity in United States, based in Radford, VA. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, Beans and Rice Inc reported income of $83k and spending of $219k, spending 262% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $498k to $83k (-83%), an average of -30% a year. The sharpest change came in the year to June 2024, when income dropped by 53%. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Beans and Rice Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 31st percentile within VA. Charities of a similar size with the same main cause include Nosotros Incorporated ($83k), Envy Volleyball Inc ($83k) and Ripea Foundation Inc ($83k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 61% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $33k (15% of expenses). Other salaries and wages came to $27k. At year end it held assets of $613k against liabilities of $456k, net assets of $156k. It reported 3 employees.