Beginners Mind Inc

Analysis

Beginners Mind Inc is a registered charity in United States, based in Baton Rouge, LA. It received its IRS tax-exemption ruling in August 1981, 45 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 2024, Beginners Mind Inc reported income of $1.9m and spending of $1.9m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.7m to $1.9m (+10%), an average of +2.0% a year. The sharpest change came in the year to June 2023, when income rose by 49%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Beginners Mind Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within LA. Charities of a similar size with the same main cause include Washington Literacy Center ($1.9m), Arctic Research Consortium of the United States Incorporated ($1.9m) and Community Living Concepts Inc ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $41k (2.2% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $740k against liabilities of $1.5m, net assets of -$784k. It reported 64 employees.