New England Business Associates Inc

Analysis

New England Business Associates Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in December 1984, 42 years ago. 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 2024, New England Business Associates Inc reported income of $2.8m and spending of $2.8m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $3.2m to $2.8m (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2024, when income dropped by 16%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New England Business Associates Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Riceville Community Rest Home ($2.8m), Villa Di Maria Montessori School ($2.8m) and Crisis Services of North Alabama ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.8m (66% of expenses). Other salaries and wages came to $46k. At year end it held assets of $2.4m against liabilities of $127k, net assets of $2.2m. It reported 59 employees.