Bay Education Foundation Inc

Analysis

Bay Education Foundation Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in January 1994, 32 years ago. 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 June 2023, Bay Education Foundation Inc reported income of $452k and spending of $602k, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.1m to $452k (-79%), an average of -32% a year. The sharpest change came in the year to June 2021, when income dropped by 63%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bay Education Foundation Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within FL. Charities of a similar size with the same main cause include The Foundation for Judaeo-Christian Studies ($452k), Rotary Club of Jackson Hole Foundation ($452k) and Greater Lawrence Community Boating Program Inc ($452k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $119k (20% of expenses). Other salaries and wages came to $17k. At year end it held assets of $2.9m against liabilities of $965k, net assets of $1.9m. It reported 6 employees.

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.