Businesses United in Investing Lending and Development

Analysis

Businesses United in Investing Lending and Development is a registered charity in United States, based in Redwood City, CA. It received its IRS tax-exemption ruling in August 2001, 25 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 June 2023, Businesses United in Investing Lending and Development reported income of $8.3m and spending of $12.2m, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.7m to $8.3m (-4.3%), an average of -1.1% a year. The sharpest change came in the year to June 2021, when income rose by 82%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Businesses United in Investing Lending and Development sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Angels for Angels ($8.3m), Equip Enterprises ($8.3m) and Concho Valley Workforce Development Board ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $580k (4.7% of expenses). Other salaries and wages came to $7.3m. It paid $74k in professional fundraising fees. At year end it held assets of $15.0m against liabilities of $714k, net assets of $14.3m. It reported 141 employees.