Pan-Massachusetts Challenge Inc

Analysis

Pan-Massachusetts Challenge Inc is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in January 1982, 44 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 December 2023, Pan-Massachusetts Challenge Inc reported income of $76.9m and spending of $77.8m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $68.3m to $76.9m (+13%), an average of +3.0% a year. The sharpest change came in the year to December 2020, when income dropped by 15%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pan-Massachusetts Challenge Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Care Dimensions Inc ($76.8m), Tri-County Community Action Agency Inc ($77.1m) and Nebraska Heart Hospital ($76.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $1.8m (2.3% of expenses). Other salaries and wages came to $776k. At year end it held assets of $4.0m against liabilities of $2.1m, net assets of $1.9m. It reported 22 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.