Familyaid Boston Inc

Analysis

Familyaid Boston Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 1953, 73 years ago. 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 June 2024, Familyaid Boston Inc reported income of $24.2m and spending of $20.9m, spending 86% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $15.9m to $24.2m (+52%), an average of +11% a year. The sharpest change came in the year to June 2024, when income rose by 32%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Familyaid Boston Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Broadway Cares-Equity Fights AIDS Inc ($24.2m), Vali Division of Wasatch-Lakecrest ($24.3m) and Search360 ($24.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $488k (2.3% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $35.1m against liabilities of $23.1m, net assets of $11.9m. It reported 151 employees.