Harvard Place Inc

Analysis

Harvard Place Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in April 1997, 29 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 June 2023, Harvard Place Inc reported income of $292k and spending of $361k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $269k to $292k (+8.4%), an average of +2.0% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Harvard Place Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within MA. Charities of a similar size with the same main cause include The Southern California Housing Development Corporation of Orange ($292k), Scottsburg Senior Housing Corporation ($292k) and New Beginnings for You ($292k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $50k. At year end it held assets of $1.6m against liabilities of $1.1m, net assets of $500k.

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.