Independence Associates Inc

Analysis

Independence Associates Inc is a registered charity in United States, based in E Bridgewtr, MA. It received its IRS tax-exemption ruling in June 1981, 45 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 September 2023, Independence Associates Inc reported income of $2.2m and spending of $2.0m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.7m to $2.2m (+28%), an average of +6.3% a year. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Independence Associates Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Lower Cape Outreach Council Inc ($2.2m), Partners Resource Network ($2.2m) and Library of Congress Child Care Association ($2.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $123k (6.2% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $1.2m against liabilities of $401k, net assets of $848k. It reported 38 employees.