Benjamin M Banks Jr Memorial Foundation

Analysis

Benjamin M Banks Jr Memorial Foundation is a registered charity in United States, based in Beaver Falls, PA. It received its IRS tax-exemption ruling in June 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Benjamin M Banks Jr Memorial Foundation reported income of $167k and spending of $41k, leaving 75% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $94k to $167k (+77%), an average of +77% a year. The sharpest change came in the year to December 2023, when income rose by 77%. Over the whole period it spent 17% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Benjamin M Banks Jr Memorial Foundation sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within PA. Charities of a similar size with the same main cause include Movement School Inc ($167k), Community Servants Inc ($167k) and Mattawan Area Pantry ($167k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 75% of the total. At year end it held assets of $241k against liabilities of $0, net assets of $241k.