Pine Banks Park Foundation

Analysis

Pine Banks Park Foundation is a registered charity in United States, based in Malden, MA. It received its IRS tax-exemption ruling in July 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, 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 2023, Pine Banks Park Foundation reported income of $687k and spending of $677k, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $519k to $687k (+32%), an average of +7.3% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 83% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Pine Banks Park Foundation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MA. Charities of a similar size with the same main cause include Shore Foundation ($687k), Cdfi Friendly South Bend ($687k) and One Hope Tulsa Inc ($687k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 6.3% of the total. At year end it held assets of $3.0m against liabilities of $1.4m, net assets of $1.6m.