Mercy Center Corporation

Analysis

Mercy Center Corporation is a registered charity in United States, based in Asbury Park, NJ. It received its IRS tax-exemption ruling in December 1986, 40 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, Mercy Center Corporation reported income of $6.9m and spending of $6.9m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.1m to $6.9m (+224%), an average of +48% a year. The sharpest change came in the year to June 2023, when income rose by 167%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mercy Center Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NJ. Charities of a similar size with the same main cause include West Virginia Coalition to End Homelessness Inc ($6.9m), American Society for Nutrition Inc ($6.9m) and YWCA Greenwich Connecticut Inc ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $333k (4.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $6.2m against liabilities of $533k, net assets of $5.6m. It reported 45 employees.