Mystic River Homes Inc

Analysis

Mystic River Homes Inc is a registered charity in United States, based in North Haven, CT. It received its IRS tax-exemption ruling in February 1989, 37 years ago. 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, Mystic River Homes Inc reported income of $1.7m and spending of $1.8m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.5m to $1.7m (+15%), an average of +4.7% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mystic River Homes Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within CT. Charities of a similar size with the same main cause include International Microelectronics and Packaging Society ($1.7m), Mission Gate Christian Center ($1.7m) and Rio Grande Community Development Corporation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. At year end it held assets of $5.6m against liabilities of $2.3m, net assets of $3.3m.