Bags of Faith Inc

Analysis

Bags of Faith Inc is a registered charity in United States, based in Brooklet, GA. It received its IRS tax-exemption ruling in January 2022, 4 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, Bags of Faith Inc reported income of $167k and spending of $59k, leaving 65% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $143k to $167k (+17%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 34% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bags of Faith Inc 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 53rd percentile within GA. Charities of a similar size with the same main cause include Women to Women ($167k), Homes Now Tudor Village Project Inc ($167k) and HRC Communities Inc ($167k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $214k against liabilities of $0, net assets of $214k.