Turning Point Inc

Analysis

Turning Point Inc is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in November 1971, 55 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Turning Point Inc reported income of $28.2m and spending of $31.4m, spending 111% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $20.5m to $28.2m (+38%), an average of +6.6% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Turning Point Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Nevada Affordable Housing Assistance Corporation ($28.1m), Montgomery Housing Partnership Inc ($28.4m) and First Community Village ($28.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $822k (2.6% of expenses). Other salaries and wages came to $18.4m. At year end it held assets of $20.9m against liabilities of $8.2m, net assets of $12.7m. It reported 402 employees.