Boom Beans LLC

Analysis

Boom Beans LLC is a registered charity in United States, based in Nicholasville, KY. It received its IRS tax-exemption ruling in October 2021, 5 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Boom Beans LLC reported income of $204k and spending of $210k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $125k to $204k (+63%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 63%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boom Beans LLC sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within KY. Charities of a similar size with the same main cause include Sausalito Village ($204k), Crazy Love Africa ($204k) and Rising Angels Community Improvement Inc ($204k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $62k (29% of expenses). Other salaries and wages came to $29k. At year end it held assets of $55k against liabilities of $0, net assets of $55k.