New Marblehead Seniors Housing Corporation

Analysis

New Marblehead Seniors Housing Corporation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in November 1979, 47 years ago. 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, New Marblehead Seniors Housing Corporation reported income of $246k and spending of $277k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $233k to $246k (+5.9%), an average of +1.4% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Marblehead Seniors Housing Corporation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 51st percentile within ME. Charities of a similar size with the same main cause include Missionary Image of Our Lady of Guadalupe Inc ($246k), Exodus Projects ($246k) and Glendale Police Foundation ($246k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. At year end it held assets of $737k against liabilities of $942k, net assets of -$205k.

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.