Faithbridge

Analysis

Faithbridge is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Faithbridge reported income of $608k and spending of $1.1m, spending 174% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $802k to $608k (-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 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Faithbridge sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within CO. Charities of a similar size with the same main cause include We Care Learning and Development Center ($608k), Logos Academy Harrisburg ($608k) and Collegeready Inc ($608k).

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 $247k (23% of expenses). Other salaries and wages came to $362k. At year end it held assets of $1.3m against liabilities of $1.1m, net assets of $136k. It reported 39 employees.