Polus Center for Social and Economic Development

Analysis

Polus Center for Social and Economic Development is a registered charity in United States, based in Athol, MA. It received its IRS tax-exemption ruling in July 1980, 46 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 2023, Polus Center for Social and Economic Development reported income of $2.5m and spending of $2.4m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.5m (+51%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 44%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Polus Center for Social and Economic Development sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Fellowship of Companies for Christ International Inc ($2.5m), Whitmarsh Corporation ($2.5m) and New Jersey Sea Grant Consortium ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $856k. At year end it held assets of $512k against liabilities of $201k, net assets of $311k. It reported 27 employees.