Building Beginnings Inc

Analysis

Building Beginnings Inc is a registered charity in United States, based in Spanish Fork, UT. It received its IRS tax-exemption ruling in August 2017, 9 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Building Beginnings Inc reported income of $1.3m and spending of $798k, leaving 41% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $263k to $1.3m (+413%), an average of +127% a year. The sharpest change came in the year to December 2022, when income rose by 138%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Building Beginnings Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within UT. Charities of a similar size with the same main cause include L a Voice ($1.3m), Chicagoland Construction Safety Council ($1.4m) and Restore Merced ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $342k (43% of expenses). Other salaries and wages came to $2,600. At year end it held assets of $729k against liabilities of $28k, net assets of $701k.