Byfield Housing for the Elderly Inc

Analysis

Byfield Housing for the Elderly Inc is a registered charity in United States, based in Byfield, MA. It received its IRS tax-exemption ruling in February 1978, 48 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, Byfield Housing for the Elderly Inc reported income of $494k and spending of $637k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $492k to $494k (+0.3%), an average of +0.1% a year. Over the whole period it spent 118% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Byfield Housing for the Elderly Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within MA. Charities of a similar size with the same main cause include New Life Bible Camp Inc ($494k), New Hope Opportunities Inc ($494k) and Youth for Christ USA Inc ($494k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. At year end it held assets of $1.5m against liabilities of $3.1m, net assets of -$1.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.