North Central Massachusetts Development Corp

Analysis

North Central Massachusetts Development Corp is a registered charity in United States, based in Fitchburg, MA. It received its IRS tax-exemption ruling in March 1994, 32 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 September 2023, North Central Massachusetts Development Corp reported income of $1.6m and spending of $1.2m, leaving 23% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $660k to $1.6m (+145%), an average of +25% a year. The sharpest change came in the year to September 2021, when income rose by 246%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Central Massachusetts Development Corp 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 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Society of St Vincent de Paul St Johns Conference Inc ($1.6m), Hillel the Foundation for Jewish Campus Life ($1.6m) and El Paso Matters Inc ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 90% and program service revenue 8.5% of the total. Other salaries and wages came to $472k. At year end it held assets of $6.9m against liabilities of $845k, net assets of $6.0m.