Building Equity Initiative Inc

Analysis

Building Equity Initiative Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Building Equity Initiative Inc reported income of $19.0m and spending of $7.6m, leaving 60% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $928k to $19.0m (+1948%), an average of +113% a year. The sharpest change came in the year to December 2023, when income rose by 290%. Over the whole period it spent 67% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Building Equity Initiative Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Community Investments Foundation ($19.0m), California Human Development Corp ($19.0m) and Presbyterian Villages of Michigan ($19.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 33% of the total. At year end it held assets of $186.8m against liabilities of $175.2m, net assets of $11.6m.