The Parmenter Foundation Inc

Analysis

The Parmenter Foundation Inc is a registered charity in United States, based in Wayland, MA. It received its IRS tax-exemption ruling in November 1957, 69 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, The Parmenter Foundation Inc reported income of $812k and spending of $863k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $712k to $812k (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2020, when income rose by 23%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Parmenter Foundation Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Young Homes Inc ($812k), Ballston Lake Emergency Squad Inc ($812k) and Dont Look Back Center Inc ($812k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% of the total. Other salaries and wages came to $289k. At year end it held assets of $10.3m against liabilities of $92k, net assets of $10.2m. It reported 5 employees.

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.