Nantucket Education Trust Inc

Analysis

Nantucket Education Trust Inc is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in October 1993, 33 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, Nantucket Education Trust Inc reported income of $310k and spending of $248k, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $374k to $310k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2020, when income dropped by 17%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nantucket Education Trust Inc sits at the 61st percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include Yuba-Sutter Youth Soccer League Inc ($310k), Busan Trade Office LA Inc ($310k) and Business Development Centre Inc ($310k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $4,800 (1.9% of expenses). At year end it held assets of $2.6m against liabilities of $1.7m, net assets of $935k.