1060 Belmont Inc

Analysis

1060 Belmont Inc is a registered charity in United States, based in Newton, MA. It received its IRS tax-exemption ruling in September 2010, 16 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, 1060 Belmont Inc reported income of $579k and spending of $482k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $442k to $579k (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2023, when income rose by 26%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 1060 Belmont Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within MA. Charities of a similar size with the same main cause include Turner Affordable Housing Inc ($579k), S O a T Inc ($580k) and Homecroft Inc ($579k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. At year end it held assets of $3.7m against liabilities of $2.7m, net assets of $1.1m.