Barred Business Foundation Co

Analysis

Barred Business Foundation Co is a registered charity in United States, based in Ellenwood, GA. It received its IRS tax-exemption ruling in October 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, Barred Business Foundation Co reported income of $1.5m and spending of $931k, leaving 39% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $629k to $1.5m (+144%), an average of +144% a year. The sharpest change came in the year to December 2023, when income rose by 144%. Over the whole period it spent 61% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Barred Business Foundation Co sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within GA. Charities of a similar size with the same main cause include Chasdei Yona Meir Inc ($1.5m), Heartbeet Lifesharing Corporation ($1.5m) and Young Mens Christian Association Greater Marinette Menominee ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $138k (15% of expenses). Other salaries and wages came to $105k. At year end it held assets of $1.6m against liabilities of $727k, net assets of $854k. It reported 6 employees.