Poorbainc

Analysis

Poorbainc is a registered charity in United States, based in MTN House, CA. It received its IRS tax-exemption ruling in January 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, 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, Poorbainc reported income of $94k and spending of $93k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $124k to $94k (-24%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 24%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Poorbainc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Adrian M Brooks Sr Foundation Inc ($94k), Friendship Heights Neighbors Network Corporation ($94k) and Junior League of Wilmington Inc ($94k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. At year end it held assets of $14k against liabilities of $3,020, net assets of $11k.