Waterville Area YMCA

Analysis

Waterville Area YMCA is a registered charity in United States, based in Waterville, ME. It received its IRS tax-exemption ruling in January 1971, 55 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 March 2023, Waterville Area YMCA reported income of $1.0m and spending of $1.1m, spending 108% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $792k to $1.0m (+29%), an average of +8.9% a year. The sharpest change came in the year to March 2022, when income rose by 122%. Over the whole period it spent 121% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Waterville Area YMCA sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 76th percentile within ME. Charities of a similar size with the same main cause include Concern for Neighbors Food Bank ($1.0m), Bethesda Center for the Homeless Inc ($1.0m) and Little Sunshine House ($1.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Other salaries and wages came to $575k. At year end it held assets of $789k against liabilities of $426k, net assets of $363k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.