Benevolent Society

Analysis

Benevolent Society is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 January 2024, Benevolent Society reported income of $113k and spending of $70k, leaving 38% of income unspent that year. Across the 3 years on record, from January 2022 to January 2024, income fell from $376k to $113k (-70%), an average of -45% a year. The sharpest change came in the year to January 2023, when income dropped by 77%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Benevolent Society sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within MI. Charities of a similar size with the same main cause include Rise Up Experience Inc ($113k), Jomar of Zion Inc ($113k) and Citizens4community Inc ($113k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $0 against liabilities of $0, net assets of $0.