Growthways Inc

Analysis

Growthways Inc is a registered charity in United States, based in Brockton, MA. It received its IRS tax-exemption ruling in September 1982, 44 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Growthways Inc reported income of $10.4m and spending of $8.9m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.6m to $10.4m (+21%), an average of +4.9% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Growthways Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Genesis Youth Crisis Center Inc ($10.4m), Highland County Community Action Organization ($10.4m) and Crystal Coast Tournament Inc ($10.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $249k (2.8% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $18.3m against liabilities of $2.3m, net assets of $15.9m. It reported 157 employees.