Believe Foundation

Analysis

Believe Foundation is a registered charity in United States, based in Wayzata, MN. It received its IRS tax-exemption ruling in July 2019, 7 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, Believe Foundation reported income of $619k and spending of $382k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $282k to $619k (+119%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 64%. Over the whole period it spent 58% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Believe Foundation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MN. Charities of a similar size with the same main cause include Santa Barbara Agriculture and Farm Education Foundation ($619k), Roundtable Academy ($619k) and Mansfield Firemens Ambulance Association Inc ($619k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $857k against liabilities of $25k, net assets of $832k.