Young Mens Christian Association Somerville

Analysis

Young Mens Christian Association Somerville is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in July 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, Young Mens Christian Association Somerville reported income of $4.9m and spending of $3.7m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $4.9m (+87%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Young Mens Christian Association Somerville sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Presbyterian Residential Community Inc ($4.9m), Community Action Inc ($4.9m) and Sun City Center Community Association Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $136k (3.7% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $8.4m against liabilities of $4.4m, net assets of $4.0m. It reported 111 employees.