Boon Philanthropy Inc

Analysis

Boon Philanthropy Inc is a registered charity in United States, based in Cumberland, RI. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Boon Philanthropy Inc reported income of $614k and spending of $307k, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $374k to $614k (+64%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 61% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Boon Philanthropy Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within RI. Charities of a similar size with the same main cause include Doug and Kaisa Levine Family Support Foundation ($614k), The Pegasus Foundation ($615k) and The Crouch Foundation ($613k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $988k against liabilities of $2,308, net assets of $986k.