437 Essex Inc

Analysis

437 Essex Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in September 1979, 47 years ago. 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, 437 Essex Inc reported income of $928k and spending of $800k, spending 86% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $768k to $928k (+21%), an average of +4.8% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, 437 Essex Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include George N Wernimont Educational Fund ($928k), Edina Swim Club Inc ($928k) and New Hope Development Day Care Center Inc ($928k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.0% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $71k (8.9% of expenses). At year end it held assets of $5.1m against liabilities of $1.4m, net assets of $3.8m. It reported 2 employees.