Vinfen Corporation of Connecticut Inc

Analysis

Vinfen Corporation of Connecticut Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Vinfen Corporation of Connecticut Inc reported income of $26.4m and spending of $26.4m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $20.0m to $26.4m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Vinfen Corporation of Connecticut Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Wesley Manor Inc ($26.4m), Living Alternatives for the Developmentally Disabled Inc ($26.4m) and Annapolis Life Care Inc ($26.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Other salaries and wages came to $16.3m. At year end it held assets of $16.2m against liabilities of $17.6m, net assets of -$1.3m. It reported 564 employees.