MBL Foundation Inc

Analysis

MBL Foundation Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in April 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, MBL Foundation Inc reported income of $969k and spending of $376k, leaving 61% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $319k to $969k (+203%), an average of +32% a year. The sharpest change came in the year to June 2021, when income rose by 139%. Over the whole period it spent 42% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, MBL Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within VA. Charities of a similar size with the same main cause include Access Community Capital ($969k), Progressnow Colorado Education ($969k) and BDC Community Capital Corp ($969k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. At year end it held assets of $1.0m against liabilities of $195k, net assets of $806k.