House of Seven Gables Settlement Association

Analysis

House of Seven Gables Settlement Association is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in April 1927, 99 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, House of Seven Gables Settlement Association reported income of $3.2m and spending of $2.9m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $3.2m (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 260%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, House of Seven Gables Settlement Association sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Arc Services of Macomb Inc ($3.2m), Elmbrook United Inc ($3.2m) and Dismas Inc ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $105k (3.7% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $4.7m against liabilities of $274k, net assets of $4.4m. It reported 87 employees.