Gloucester Celebration Corporation

Analysis

Gloucester Celebration Corporation is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Gloucester Celebration Corporation reported income of $658k and spending of $816k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $247k to $658k (+167%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 262%. Over the whole period it spent 112% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gloucester Celebration Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Straits Area Services Inc ($658k), Dentistry 4 Vets ($659k) and Heart of Boardwalk ($658k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 2.1% of the total. It paid $1,398 in professional fundraising fees. At year end it held assets of $217k against liabilities of $1,528, net assets of $215k.