Better Way of Miami Inc

Analysis

Better Way of Miami Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 1987, 39 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Better Way of Miami Inc reported income of $6.2m and spending of $5.4m, spending 88% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.5m to $6.2m (+37%), an average of +8.1% a year. Over the whole period it spent 83% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Better Way of Miami Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Albany Med Health System ($6.2m), Luminosity Behavioral Health Services Inc ($6.2m) and Happi Health ($6.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 90% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $316k (5.8% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $8.4m against liabilities of $625k, net assets of $7.8m. It reported 92 employees.