Firehouse Place Inc

Analysis

Firehouse Place Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in April 2011, 15 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, Firehouse Place Inc reported income of $82k and spending of $87k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $70k to $82k (+16%), an average of +3.8% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Firehouse Place Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 39th percentile within MA. Charities of a similar size with the same main cause include Gibb Springfield Village Inc ($82k), Dima V Inc ($82k) and Accessible Residences Inc ($82k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $953k against liabilities of $876k, net assets of $77k.

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.