Building Futures

Analysis

Building Futures is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover employment, 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, Building Futures reported income of $3.5m and spending of $2.9m, spending 82% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.5m to $3.5m (+39%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Building Futures sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within RI. Charities of a similar size with the same main cause include Stepping Stones Inc ($3.5m), East Harlem Council for Community Improvement Inc ($3.5m) and Network of Executive Women in Hospitality Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $309k (11% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.3m against liabilities of $284k, net assets of $2.0m. It reported 23 employees.