Nectar Community Investments Inc

Analysis

Nectar Community Investments Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Nectar Community Investments Inc reported income of $6.6m and spending of $5.7m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $6.6m (+156%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 211%. Over the whole period it spent 66% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nectar Community Investments Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include First Place Az ($6.6m), Epiphany Senior Citizens Housing Corporation ($6.6m) and Bernal Heights Housing Corporation ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $228k (4.0% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $20.0m against liabilities of $10.7m, net assets of $9.3m. It reported 17 employees.