Beacon Inc

Analysis

Beacon Inc is a registered charity in United States, based in Bloomington, IN. It received its IRS tax-exemption ruling in September 2002, 24 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 2023, Beacon Inc reported income of $2.9m and spending of $3.0m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.9m (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Beacon Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within IN. Charities of a similar size with the same main cause include Blackwater Regional Library ($2.9m), Drake Auxilio Divino ($2.9m) and Midway Foundation Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $81k (2.7% of expenses). Other salaries and wages came to $928k. At year end it held assets of $1.2m against liabilities of $20k, net assets of $1.2m. It reported 40 employees.