Preachers Aid Society of New England

Analysis

Preachers Aid Society of New England is a registered charity in United States, based in Wells, ME. It received its IRS tax-exemption ruling in October 1974, 52 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Preachers Aid Society of New England reported income of $2.8m and spending of $2.2m, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.4m to $2.8m (-19%), an average of -5.2% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Preachers Aid Society of New England 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 88th percentile, and in the 87th percentile within ME. Charities of a similar size with the same main cause include The Community Foundation of Howard County Inc ($2.8m), The Trustees of the Ladew Topiary Gardens Inc ($2.8m) and The Sun Publishing Company ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.0% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $170k (7.7% of expenses). Other salaries and wages came to $243k. At year end it held assets of $50.8m against liabilities of $91k, net assets of $50.7m. It reported 10 employees.