Bound for Success Inc

Analysis

Bound for Success Inc is a registered charity in United States, based in Bernalillo, NM. It received its IRS tax-exemption ruling in July 1987, 39 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, Bound for Success Inc reported income of $58k and spending of $66k, spending 114% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $84k to $58k (-30%), an average of -30% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bound for Success Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 19th percentile within NM. Charities of a similar size with the same main cause include St Lukes Clinic Inc ($58k), Home Front K9 Project Inc ($58k) and One Hundred Club of Comal County Inc ($58k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 15% of the total. At year end it held assets of $154k against liabilities of $26k, net assets of $128k.