Brightbeam Inc

Analysis

Brightbeam Inc is a registered charity in United States, based in Rochester, MI. It received its IRS tax-exemption ruling in July 2021, 5 years ago. 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, Brightbeam Inc reported income of $3.3m and spending of $2.4m, leaving 27% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.9m to $3.3m (+75%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 55%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Brightbeam Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Mid Cities Learning Center Inc ($3.3m), R T Industries Inc ($3.3m) and Fellowship Place Inc ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $483k (20% of expenses). Other salaries and wages came to $632k. At year end it held assets of $2.6m against liabilities of $242k, net assets of $2.4m.