Beneficent Technology Inc

Analysis

Beneficent Technology Inc is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in April 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Beneficent Technology Inc reported income of $10.9m and spending of $14.0m, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.8m to $10.9m (-26%), an average of -7.3% a year. The sharpest change came in the year to December 2023, when income dropped by 32%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Beneficent Technology Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Encompass Early Education and Care Inc ($10.9m), Pathways Vermont Inc ($10.9m) and Cottonwood Community Alternatives Inc ($10.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 10.0% of the total. Compensation of current officers, directors and key employees was $1.1m (8.1% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $2.5m against liabilities of $1.5m, net assets of $1.1m. It reported 80 employees.