Hospice of Marthas Vineyard Inc

Analysis

Hospice of Marthas Vineyard Inc is a registered charity in United States, based in Vineyard Haven, MA. It received its IRS tax-exemption ruling in December 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 (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, Hospice of Marthas Vineyard Inc reported income of $2.0m and spending of $2.2m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $917k to $2.0m (+117%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 426%. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hospice of Marthas Vineyard Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Dawn Enterprises Inc ($2.0m), Emergency Support Shelter ($2.0m) and Eod Warrior Foundation Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $187k (8.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $5.6m against liabilities of $409k, net assets of $5.2m. It reported 28 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.