Bright Beginnings Academy Inc

Analysis

Bright Beginnings Academy Inc is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Bright Beginnings Academy Inc reported income of $1.5m and spending of $1.5m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $907k to $1.5m (+64%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bright Beginnings Academy Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include Canine Partners for Life ($1.5m), Soww Corp ($1.5m) and Issara Institute Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $203k (14% of expenses). Other salaries and wages came to $682k. At year end it held assets of $697k against liabilities of $317k, net assets of $380k. It reported 50 employees.