Bangor Young Mens Christian Association

Analysis

Bangor Young Mens Christian Association is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in August 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Bangor Young Mens Christian Association reported income of $8.5m and spending of $6.5m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.9m to $8.5m (+74%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 223%. Over the whole period it spent 66% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bangor Young Mens Christian Association sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within ME. Charities of a similar size with the same main cause include Bucks County Transport Inc ($8.5m), The Skagit Valley Family YMCA ($8.5m) and Hospice & Palliative Care of the Ohio Valley Inc ($8.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $417k (6.4% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $23.5m against liabilities of $2.7m, net assets of $20.8m. It reported 272 employees.