Walnut Street Center Inc

Analysis

Walnut Street Center Inc is a registered charity in United States, based in Medford, MA. It received its IRS tax-exemption ruling in June 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Walnut Street Center Inc reported income of $15.8m and spending of $15.6m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $12.5m to $15.8m (+27%), an average of +8.2% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Walnut Street Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Phalanx Family Services ($15.8m), Israeli-American Council ($15.9m) and North-Central West Virginia Community Action Association Inc ($15.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $480k (3.1% of expenses). Other salaries and wages came to $8.5m. At year end it held assets of $4.9m against liabilities of $1.7m, net assets of $3.2m. It reported 220 employees.