Belmont After School Enrichment Collaborative Inc

Analysis

Belmont After School Enrichment Collaborative Inc is a registered charity in United States, based in Belmont, MA. It received its IRS tax-exemption ruling in August 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 August 2023, Belmont After School Enrichment Collaborative Inc reported income of $4.0m and spending of $3.5m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.4m to $4.0m (+63%), an average of +13% a year. The sharpest change came in the year to August 2022, when income rose by 124%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Belmont After School Enrichment Collaborative Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include McLean Fund ($4.0m), Martin County Residential Services Inc ($4.0m) and Kingswood Community Center Inc ($4.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $131k (3.8% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $1.9m against liabilities of $440k, net assets of $1.4m. It reported 106 employees.