247 Blac

Analysis

247 Blac is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in July 2007, 19 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 (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, 247 Blac reported income of $316k and spending of $367k, spending 116% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $431k to $316k (-27%), an average of -14% a year. The sharpest change came in the year to December 2022, when income rose by 111%. Over the whole period it spent 59% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, 247 Blac sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within IA. Charities of a similar size with the same main cause include Ozaukee Nonprofit Center Inc ($316k), Laborers Community Service and Training Foundation ($316k) and WLS Building Company ($315k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $25k (6.8% of expenses). It paid $3,750 in professional fundraising fees. At year end it held assets of $743k against liabilities of $2,854, net assets of $741k. It reported 1 employees.