Mi Residential Community Inc

Analysis

Mi Residential Community Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 December 2023, Mi Residential Community Inc reported income of $6.1m and spending of $4.2m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $6.1m (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mi Residential Community 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 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Correctional Peace Officers Foundation Inc ($6.1m), Macon Citizens for the Handicapped Inc ($6.1m) and Rainier Valley Food Bank ($6.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $668k. At year end it held assets of $19.9m against liabilities of $7.5m, net assets of $12.4m.