My Brothers Workshop

Analysis

My Brothers Workshop is a registered charity in United States, based in St Thomas, VI. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. 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, My Brothers Workshop reported income of $5.7m and spending of $1.7m, leaving 69% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.7m to $5.7m (+231%), an average of +49% a year. The sharpest change came in the year to December 2021, when income rose by 86%. Over the whole period it spent 55% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, My Brothers Workshop sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 97th percentile within VI. Charities of a similar size with the same main cause include Imagine Me Leadership Charter School ($5.7m), California Maritime Academy Foundation Inc ($5.7m) and Somerset Hills Learning Institute Inc ($5.7m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 92% and program service revenue 8.3% of the total. Compensation of current officers, directors and key employees was $85k (4.9% of expenses). Other salaries and wages came to $841k. At year end it held assets of $7.3m against liabilities of $759k, net assets of $6.5m. It reported 54 employees.