Mystic Valley Aging Services Inc

Analysis

Mystic Valley Aging Services Inc is a registered charity in United States, based in Malden, MA. It received its IRS tax-exemption ruling in March 1977, 49 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, Mystic Valley Aging Services Inc reported income of $101.5m and spending of $102.1m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $74.7m to $101.5m (+36%), an average of +7.9% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mystic Valley Aging Services Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Greenspring Village Inc ($100.7m), Harlem Childrens Zone Inc ($101.8m) and I Am Boundless Inc ($100.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $652k (0.6% of expenses). Other salaries and wages came to $17.2m. At year end it held assets of $36.7m against liabilities of $21.1m, net assets of $15.5m. It reported 402 employees.