Massachusetts Elks Scholarship Inc

Analysis

Massachusetts Elks Scholarship Inc is a registered charity in United States, based in Lynnfield, MA. It received its IRS tax-exemption ruling in October 1942, 84 years ago. Its declared purposes cover education, which this site groups under education and training. 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 May 2024, Massachusetts Elks Scholarship Inc reported income of $1.2m and spending of $504k, leaving 58% of income unspent that year. Across the 5 years on record, from May 2020 to May 2024, income grew from $766k to $1.2m (+56%), an average of +12% a year. The sharpest change came in the year to May 2021, when income rose by 203%. Over the whole period it spent 42% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Massachusetts Elks Scholarship Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Hadi School NFP ($1.2m), Everyday Blooms Montessori Incorporated ($1.2m) and The Maranyundo Initiative Inc ($1.2m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 26% of the total. Other salaries and wages came to $42k. At year end it held assets of $11.8m against liabilities of $1,709, net assets of $11.8m. It reported 1 employees.