New England Association for Financial Professionals Inc

Analysis

New England Association for Financial Professionals Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in July 1982, 44 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, New England Association for Financial Professionals Inc reported income of $198k and spending of $250k, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $314k to $198k (-37%), an average of -11% a year. The sharpest change came in the year to June 2022, when income rose by 99%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New England Association for Financial Professionals Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 58th percentile within MA. Charities of a similar size with the same main cause include Community Based Organization Partners ($198k), Morris County Collaborative ($198k) and The Connecticut Renaissance Fund Inc ($198k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.8% and program service revenue 93% of the total. Other salaries and wages came to $64k. At year end it held assets of $101k against liabilities of $72k, net assets of $29k. It reported 1 employees.