Richard Bennett Trust

Analysis

Richard Bennett Trust is a registered charity in United States, based in Suffolk, VA. It received its IRS tax-exemption ruling in June 1967, 59 years ago. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Richard Bennett Trust reported income of $423k and spending of $260k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $419k to $423k (+0.9%), an average of +0.2% a year. The sharpest change came in the year to December 2021, when income rose by 223%. Over the whole period it spent 59% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richard Bennett Trust sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within VA. Charities of a similar size with the same main cause include Trinity Irish Dance Company ($422k), Trinity Terrace Inc ($423k) and Care Lab ($422k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% of the total. Compensation of current officers, directors and key employees was $24k (9.2% of expenses). At year end it held assets of $14.0m against liabilities of $0, net assets of $14.0m.