Neads Inc

Analysis

Neads Inc is a registered charity in United States, based in Princeton, MA. It received its IRS tax-exemption ruling in March 1973, 53 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, Neads Inc reported income of $5.7m and spending of $4.1m, leaving 29% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $4.1m to $5.7m (+39%), an average of +8.6% a year. The sharpest change came in the year to August 2021, when income rose by 68%. Over the whole period it spent 69% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Neads Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Bath Area Family YMCA ($5.7m), Homeworthy ($5.7m) and Port Washington Childrens Center ($5.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $175k (4.3% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $16.0m against liabilities of $729k, net assets of $15.2m. It reported 59 employees.