Business-Industry Foundation of Western Connecticut Inc

Analysis

Business-Industry Foundation of Western Connecticut Inc is a registered charity in United States, based in Danbury, CT. It received its IRS tax-exemption ruling in August 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Business-Industry Foundation of Western Connecticut Inc reported income of $57k and spending of $47k, spending 82% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $59k to $57k (-3.7%), an average of -0.9% a year. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Business-Industry Foundation of Western Connecticut Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within CT. Charities of a similar size with the same main cause include Friends of Lexington Preservation ($57k), Economic Development with On-Going-Community Engagement Inc ($57k) and Tarrytown Police Benevolent Association Inc ($57k).

At year end it held assets of $120k against liabilities of $111k, net assets of $9,826.