Broomstones Inc

Analysis

Broomstones Inc is a registered charity in United States, based in Wayland, MA. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 May 2023, Broomstones Inc reported income of $453k and spending of $434k, spending 96% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $368k to $453k (+23%), an average of +5.4% a year. The sharpest change came in the year to May 2022, when income rose by 389%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Broomstones Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Idaho Youth Golf Association Inc ($453k), Vero Beach Duplicate Bridge Club Inc ($454k) and Johnson County Fair Association ($453k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 1.0% and program service revenue 74% of the total. Other salaries and wages came to $84k. At year end it held assets of $1.5m against liabilities of $12k, net assets of $1.5m. It reported 17 employees.