Friends of the Marblehead Council on Aging Inc

Analysis

Friends of the Marblehead Council on Aging Inc is a registered charity in United States, based in Marblehead, MA. It received its IRS tax-exemption ruling in May 1994, 32 years ago. 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, Friends of the Marblehead Council on Aging Inc reported income of $67k and spending of $45k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $117k to $67k (-43%), an average of -43% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 44% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Marblehead Council on Aging Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 35th percentile within MA. Charities of a similar size with the same main cause include Saddleback Christian Academy ($67k), Casa Guadalupe ($67k) and Psia-W Ski Education Foundation ($67k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 20% of the total. At year end it held assets of $337k against liabilities of $0, net assets of $337k.