Essential Partners Inc

Analysis

Essential Partners Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in July 1996, 30 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 August 2023, Essential Partners Inc reported income of $2.0m and spending of $1.7m, spending 84% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.5m to $2.0m (+39%), an average of +8.5% a year. The sharpest change came in the year to August 2021, when income rose by 28%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Essential Partners Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Limestone Family YMCA Inc ($2.0m), Joppa ($2.0m) and Little Folks Community Day Care Center Inc ($2.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $242k (14% of expenses). Other salaries and wages came to $677k. At year end it held assets of $2.0m against liabilities of $498k, net assets of $1.5m. It reported 23 employees.