Mayors Residence Society

Analysis

Mayors Residence Society is a registered charity in United States, based in Dearborn, MI. It received its IRS tax-exemption ruling in June 1994, 32 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Mayors Residence Society reported income of $150k and spending of $57k, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5,000 to $150k (+2900%), an average of +134% a year. The sharpest change came in the year to December 2022, when income rose by 309%. Over the whole period it spent 34% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mayors Residence Society sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within MI. Charities of a similar size with the same main cause include Rural Advancement Fund of the National Sharecroppers Fund Inc ($150k), National Work Readiness Council ($150k) and Utica Karen Baptist Church ($150k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $796k against liabilities of $0, net assets of $796k.