Wellmet Project Inc

Analysis

Wellmet Project Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in August 1962, 64 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Wellmet Project Inc reported income of $836k and spending of $784k, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $727k to $836k (+15%), an average of +3.6% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 104% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellmet Project 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 The Center for Hope Inc ($836k), Grayson Co Hospital Foundation Inc ($836k) and The Womens Breast & Heart Initiative Florida Affiliate Inc ($836k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $106k (13% of expenses). Other salaries and wages came to $141k. At year end it held assets of $2.1m against liabilities of $759k, net assets of $1.3m. It reported 6 employees.