Beacon Harbor It Inc

Analysis

Beacon Harbor It Inc is a registered charity in United States, based in Greenwood, MS. It received its IRS tax-exemption ruling in January 1985, 41 years ago. 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 2023, Beacon Harbor It Inc reported income of $185k and spending of $203k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $293k to $185k (-37%), an average of -11% a year. The sharpest change came in the year to December 2021, when income dropped by 38%. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Beacon Harbor It Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within MS. Charities of a similar size with the same main cause include Aim for Life Inc ($185k), Society of the Muse of the Southwest ($185k) and St Cloud Rotary Foundation Inc ($185k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $101k. At year end it held assets of $191k against liabilities of $192k, net assets of -$854.

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.