Marys Meadow at Providence Place Inc

Analysis

Marys Meadow at Providence Place Inc is a registered charity in United States, based in Holyoke, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Marys Meadow at Providence Place Inc reported income of $7.3m and spending of $7.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.8m to $7.3m (+24%), an average of +5.6% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Marys Meadow at Providence Place Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include National Association of Counties Research Foundation ($7.3m), Marbles Kids Museum ($7.3m) and Lawrence Community Works Inc ($7.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Other salaries and wages came to $3.8m. At year end it held assets of $6.3m against liabilities of $13.2m, net assets of -$6.8m.