Third Sector New England Inc

Analysis

Third Sector New England Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in November 1960, 66 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Third Sector New England Inc reported income of $88.4m and spending of $75.5m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $72.6m to $88.4m (+22%), an average of +5.1% a year. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Third Sector New England Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Goodwill Industries of the Southern Piedmont Inc ($88.4m), Goodwill Industries of Northern New England ($88.4m) and The Bridgespan Group Inc ($84.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $526k (0.7% of expenses). Other salaries and wages came to $30.9m. It paid $326k in professional fundraising fees. At year end it held assets of $162.5m against liabilities of $22.2m, net assets of $140.3m. It reported 556 employees.