Homenetmen Eastern Region Inc

Analysis

Homenetmen Eastern Region Inc is a registered charity in United States, based in Watertown, MA. It received its IRS tax-exemption ruling in March 1987, 39 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 December 2023, Homenetmen Eastern Region Inc reported income of $138k and spending of $125k, spending 91% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $38k to $138k (+265%), an average of +265% a year. The sharpest change came in the year to December 2023, when income rose by 265%. Over the whole period it spent 120% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Homenetmen Eastern Region Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 50th percentile within MA. Charities of a similar size with the same main cause include Colbert Senior Citizens Inc ($138k), Barber County Developmentincorporated ($138k) and Breakout Foundation Inc ($138k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 68% of the total. At year end it held assets of $59k against liabilities of $0, net assets of $59k.