Beacon

Analysis

Beacon is a registered charity in United States, based in Santa Maria, CA. It received its IRS tax-exemption ruling in July 1963, 63 years ago. Its declared purposes cover employment, 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 June 2023, Beacon reported income of $11.4m and spending of $11.5m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.4m to $11.4m (+9.3%), an average of +2.2% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Beacon sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Greater Metropolitan Community Blood Service Inc ($11.4m), Virginia Organizing Inc ($11.4m) and Open Sats Initiative Inc ($11.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $172k (1.5% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $15.5m against liabilities of $1.2m, net assets of $14.2m. It reported 246 employees.