Mystic Learning Center Inc

Analysis

Mystic Learning Center Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in November 1987, 39 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, Mystic Learning Center Inc reported income of $933k and spending of $780k, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $465k to $933k (+101%), an average of +26% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mystic Learning Center Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include Bridging Hope Inc ($933k), West Ouachita Senior Center ($933k) and Felege Hiywot Center Inc ($933k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $28k (3.6% of expenses). Other salaries and wages came to $480k. At year end it held assets of $485k against liabilities of $72k, net assets of $413k. It reported 35 employees.