Phare Bio Inc

Analysis

Phare Bio Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 2020, 6 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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 June 2023, Phare Bio Inc reported income of $2.0m and spending of $1.2m, leaving 38% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $1.6m to $2.0m (+29%), an average of +29% a year. The sharpest change came in the year to June 2023, when income rose by 29%. Over the whole period it spent 68% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Phare Bio Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include New Paltz Rescue Squad Inc ($2.0m), Delta Dental of Virginia Foundation Inc ($2.0m) and American Board of Periodontology Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $806k (64% of expenses). At year end it held assets of $1.8m against liabilities of $88k, net assets of $1.7m. It reported 3 employees.