Bright Life Farms Inc

Analysis

Bright Life Farms Inc is a registered charity in United States, based in Kuttawa, KY. It received its IRS tax-exemption ruling in November 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2024, Bright Life Farms Inc reported income of $782k and spending of $800k, spending 102% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $575k to $782k (+36%), an average of +8.0% a year. The sharpest change came in the year to March 2023, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bright Life Farms Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within KY. Charities of a similar size with the same main cause include American Friends of Toiras Inc ($782k), Tapestry Farms ($782k) and Transitions for Youth ($782k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 28% and program service revenue 50% of the total. Other salaries and wages came to $503k. At year end it held assets of $2.3m against liabilities of $2,638, net assets of $2.3m. It reported 27 employees.