Maynard Road Corporation

Analysis

Maynard Road Corporation is a registered charity in United States, based in Meriden, CT. It received its IRS tax-exemption ruling in March 2009, 17 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Maynard Road Corporation reported income of $796k and spending of $2.7m, spending 342% of what it took in. Across the 6 years on record, from September 2019 to December 2023, income fell from $1.1m to $796k (-24%), an average of -5.4% a year. The sharpest change came in the year to December 2022, when income rose by 1596%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Maynard Road Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Council Towers V Housingdevelopment Fund Corporation ($796k), Student-Run Emergency Housing Unit of Philadelphia Inc ($797k) and Van Buren Apartments Inc ($796k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $407k. At year end it held assets of $10.2m against liabilities of $17.7m, net assets of -$7.5m. It reported 5 employees.