Massachusetts Association of Community Development Corporation

Analysis

Massachusetts Association of Community Development Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 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 June 2023, Massachusetts Association of Community Development Corporation reported income of $2.2m and spending of $2.1m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.5m to $2.2m (+40%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Massachusetts Association of Community Development Corporation sits at the 86th percentile: it is larger than about 86% 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 Georgia Charitable Care Network Inc ($2.2m), Cook Inlet Aquaculture Assoc ($2.2m) and Booker T Washington Child Development Center Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $115k (5.5% of expenses). Other salaries and wages came to $730k. At year end it held assets of $1.7m against liabilities of $842k, net assets of $840k. It reported 15 employees.