419 Walnut Inc

Analysis

419 Walnut Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 2014, 12 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 December 2023, 419 Walnut Inc reported income of $425k and spending of $674k, spending 159% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $394k to $425k (+7.9%), an average of +1.9% a year. Over the whole period it spent 170% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 419 Walnut Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within MA. Charities of a similar size with the same main cause include Luther House IV Inc ($425k), The Cavanagh House ($425k) and Weehawken Senior Housing Rehabilitation Corporation ($425k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $43k. At year end it held assets of $8.6m against liabilities of $4.6m, net assets of $4.0m.

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.