Merrimac Valley Housing Services Inc

Analysis

Merrimac Valley Housing Services Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in August 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Merrimac Valley Housing Services Inc reported income of $1.3m and spending of $1.2m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.2m to $1.3m (+8.3%), an average of +2.7% a year. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Merrimac Valley Housing Services Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Sasco Creek Development Corporation ($1.3m), Crossroads Corp for Affordable Housing and Community Dev Inc ($1.3m) and Boston Neighborhood Community Land Trust Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 20% of the total. Other salaries and wages came to $247k. At year end it held assets of $2.0m against liabilities of $7.5m, net assets of -$5.5m.