M O L I F E Inc

Analysis

M O L I F E Inc is a registered charity in United States, based in Fairhaven, MA. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2024, M O L I F E Inc reported income of $2.9m and spending of $2.9m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.3m to $2.9m (+28%), an average of +5.0% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, M O L I F E Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Communites in Schools Southeast Texas Inc ($2.9m), Office of Port Job Opportunities and Business Support ($2.9m) and Grow Hays ($2.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $215k (7.3% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $976k against liabilities of $638k, net assets of $338k. It reported 96 employees.