Black Socialists of America

Analysis

Black Socialists of America is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2020, 6 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. 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, Black Socialists of America reported income of $64k and spending of $85k, spending 133% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $225k to $64k (-72%), an average of -34% a year. The sharpest change came in the year to December 2023, when income dropped by 56%. Over the whole period it spent 66% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Black Socialists of America sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include East Valley Police Activity League Supporters Inc ($64k), Grandparents for Gun Safety ($64k) and Successful Survivors ($64k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $70k (82% of expenses). At year end it held assets of $229k against liabilities of $2,579, net assets of $226k. It reported 1 employees.