Boston Cares Inc

Analysis

Boston Cares Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in November 1993, 33 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 December 2023, Boston Cares Inc reported income of $1.4m and spending of $1.3m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.4m (+2.8%), an average of +0.7% a year. The sharpest change came in the year to December 2020, when income dropped by 38%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Boston Cares Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include New Beginnings of Central Florida Inc ($1.4m), Hope Developmental Achievement Center ($1.4m) and Island Hospital Health Foundation ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $108k (8.4% of expenses). Other salaries and wages came to $517k. At year end it held assets of $792k against liabilities of $433k, net assets of $359k. It reported 12 employees.