Believe in Students Inc

Analysis

Believe in Students Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 2016, 10 years ago. 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 December 2023, Believe in Students Inc reported income of $448k and spending of $749k, spending 167% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $364k to $448k (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2020, when income rose by 945%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Believe in Students Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 66th percentile within PA. Charities of a similar size with the same main cause include Trafford Emergency Medical Service Company No 1 ($448k), National Society of the Daughters of the American Revolution ($448k) and Journey International ($448k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $104k (14% of expenses). Other salaries and wages came to $228k. At year end it held assets of $324k against liabilities of $38k, net assets of $286k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.