The Beacon Council Economic Development Foundation Inc

Analysis

The Beacon Council Economic Development Foundation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in May 1987, 39 years ago. Its declared purposes cover community improvement and capacity building, 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 September 2023, The Beacon Council Economic Development Foundation Inc reported income of $817k and spending of $826k, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $594k to $817k (+38%), an average of +8.3% a year. The sharpest change came in the year to September 2022, when income rose by 103%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Beacon Council Economic Development Foundation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include Erie County Restorative Justice Coalition Inc ($817k), Wellspring Cooperative Corporation ($818k) and Boston Project Ministries Inc ($815k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $802k against liabilities of $862k, net assets of -$60k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.