Villa Mechelangelo Inc

Analysis

Villa Mechelangelo Inc is a registered charity in United States, based in East Boston, MA. It received its IRS tax-exemption ruling in April 1998, 28 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 September 2023, Villa Mechelangelo Inc reported income of $844k and spending of $1.1m, spending 130% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $764k to $844k (+11%), an average of +2.5% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Villa Mechelangelo Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Weeks Avenue Housing Development Fund Corp ($844k), Eagle Village Inc ($844k) and Yellow Springs Home Inc ($843k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $4.8m against liabilities of $7.7m, net assets of -$3.0m.

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.