Gaithersburg Beloved Community Initiative Incorporated

Analysis

Gaithersburg Beloved Community Initiative Incorporated is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 June 2024, Gaithersburg Beloved Community Initiative Incorporated reported income of $502k and spending of $248k, leaving 50% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income grew from $281k to $502k (+78%), an average of +34% a year. The sharpest change came in the year to June 2024, when income rose by 64%. Over the whole period it spent 51% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Gaithersburg Beloved Community Initiative Incorporated sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within MD. Charities of a similar size with the same main cause include St Lawrence Child Care Council Inc ($501k), Klamath Ice Sports Inc ($502k) and Firehouse Cultural Center Inc ($501k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $176k. At year end it held assets of $760k against liabilities of $5,377, net assets of $754k. It reported 2 employees.