Penobscot Bay YMCA

Analysis

Penobscot Bay YMCA is a registered charity in United States, based in Rockport, ME. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Penobscot Bay YMCA reported income of $6.6m and spending of $5.4m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.2m to $6.6m (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Penobscot Bay YMCA sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within ME. Charities of a similar size with the same main cause include Nar Incorporated ($6.6m), Cobys Family Services ($6.6m) and Capital Area Agency on Aging District II ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $216k (4.0% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $13.0m against liabilities of $1.3m, net assets of $11.7m. It reported 195 employees.