Newbridge on the Charles Inc

Analysis

Newbridge on the Charles Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in July 2005, 21 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 September 2023, Newbridge on the Charles Inc reported income of $51.4m and spending of $65.8m, spending 128% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $52.9m to $51.4m (-2.8%), an average of -0.7% a year. Over the whole period it spent 123% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newbridge on the Charles Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Developmental Pathways Inc ($51.4m), SBCS Corporation ($51.5m) and Mather ($51.3m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $412k (0.6% of expenses). Other salaries and wages came to $16.3m. At year end it held assets of $267.4m against liabilities of $487.0m, net assets of -$219.7m. It reported 471 employees.

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.