Philanthropy Massachusetts Inc

Analysis

Philanthropy Massachusetts Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 1970, 56 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Philanthropy Massachusetts Inc reported income of $5.5m and spending of $4.7m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.8m to $5.5m (+98%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 50%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Philanthropy Massachusetts Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include The Jewish Community Foundation of the West ($5.5m), Independent Sector ($5.5m) and Chesapeake-Potomac Home Health Agency Inc ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $384k (8.1% of expenses). Other salaries and wages came to $549k. At year end it held assets of $5.5m against liabilities of $793k, net assets of $4.7m. It reported 14 employees.