Black Belt Community Foundation Inc

Analysis

Black Belt Community Foundation Inc is a registered charity in United States, based in Selma, AL. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2022, Black Belt Community Foundation Inc reported income of $16.1m and spending of $11.8m, leaving 27% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $5.7m to $16.1m (+181%), an average of +41% a year. The sharpest change came in the year to December 2020, when income rose by 112%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Black Belt Community Foundation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within AL. Charities of a similar size with the same main cause include Tom T East Sr & Alice K East & Alice H East & Robert C East Wildl ($16.1m), Metro United Way Inc ($16.2m) and Community Foundation of Greater Dubuque ($16.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $193k (1.6% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $13.2m against liabilities of $2.0m, net assets of $11.2m. It reported 102 employees.