Shed Inc

Analysis

Shed Inc is a registered charity in United States, based in Andover, MA. It received its IRS tax-exemption ruling in March 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Shed Inc reported income of $4.0m and spending of $3.0m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $4.0m (+65%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Shed Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Safe Passage Inc ($4.0m), Promise 686 Inc ($4.0m) and Young Mens Christian Assoc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.0% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $187k (6.3% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $7.6m against liabilities of $973k, net assets of $6.6m. It reported 55 employees.