Black Inventors Hall of Fame

Analysis

Black Inventors Hall of Fame is a registered charity in United States, based in Wharton, NJ. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Black Inventors Hall of Fame reported income of $61k and spending of $61k, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1,040 to $61k (+5791%), an average of +289% a year. The sharpest change came in the year to December 2021, when income rose by 5362%. Over the whole period it spent 129% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Black Inventors Hall of Fame sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 31st percentile within NJ. Charities of a similar size with the same main cause include Ardmore Sample Cut and Library Inc ($61k), Johnson-Humrickhouse Museum Foundation ($61k) and Berks Sinfonietta Inc ($61k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $982 against liabilities of $56k, net assets of -$55k.