My Sisters Place Inc

Analysis

My Sisters Place Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in November 1986, 40 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, My Sisters Place Inc reported income of $3.9m and spending of $4.0m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.3m to $3.9m (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2021, when income rose by 16%. 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, My Sisters Place Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Murrysville Medic No 1 ($3.9m), Forever Young Foundation ($3.9m) and LA Casa Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $164k (4.1% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $15.4m against liabilities of $4.8m, net assets of $10.6m. It reported 31 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.