Bineth Foundation Inc

Analysis

Bineth Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Bineth Foundation Inc reported income of $84k and spending of $147k, spending 174% of what it took in. Across the 2 years on record, from December 2019 to December 2020, income fell from $214k to $84k (-61%), an average of -61% a year. The sharpest change came in the year to December 2020, when income dropped by 61%. Over the whole period it spent 121% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bineth Foundation Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within NY. Charities of a similar size with the same main cause include Duha Foundation ($84k), Ecomfort Inc ($84k) and Helping Hands of Franklin County in ($84k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 100% of the total. At year end it held assets of $7,485 against liabilities of $70k, net assets of -$62k.