Boston Seamans Friend Society Inc Seamans House

Analysis

Boston Seamans Friend Society Inc Seamans House is a registered charity in United States, based in Chelsea, MA. It received its IRS tax-exemption ruling in June 1941, 85 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Boston Seamans Friend Society Inc Seamans House reported income of $259k and spending of $277k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $184k to $259k (+41%), an average of +8.9% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Boston Seamans Friend Society Inc Seamans House sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include Greene County Habitat for Humanity ($259k), Vesper Volunteer Fire Department Inc ($259k) and New Castle Historical Society ($259k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $37k (13% of expenses). Other salaries and wages came to $140k. At year end it held assets of $1.5m against liabilities of $195k, net assets of $1.3m. It reported 10 employees.