JFM No 2 Corp

Analysis

JFM No 2 Corp is a registered charity in United States, based in Auburn, ME. It received its IRS tax-exemption ruling in July 2007, 19 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, JFM No 2 Corp reported income of $123k and spending of $145k, spending 118% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $94k to $123k (+31%), an average of +6.9% a year. The sharpest change came in the year to March 2021, when income rose by 16%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, JFM No 2 Corp sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 36th percentile within ME. Charities of a similar size with the same main cause include Housing Solutions ($123k), Tushim Manor Inc ($123k) and Esct Austin Housing II Inc ($123k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 51% and program service revenue 48% of the total. Other salaries and wages came to $32k. At year end it held assets of $1.2m against liabilities of $36k, net assets of $1.1m.

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.