Mayflower Homes Inc

Analysis

Mayflower Homes Inc is a registered charity in United States, based in Grinnell, IA. It received its IRS tax-exemption ruling in February 1956, 70 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 March 2023, Mayflower Homes Inc reported income of $8.4m and spending of $10.5m, spending 125% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $9.0m to $8.4m (-6.7%), an average of -2.3% a year. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mayflower Homes Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within IA. Charities of a similar size with the same main cause include Onesight ($8.4m), Northern Homecare Services ($8.4m) and Home for the Aged ($8.4m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 7.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $212k (2.0% of expenses). Other salaries and wages came to $3.6m. It paid $31k in professional fundraising fees. At year end it held assets of $23.2m against liabilities of $32.4m, net assets of -$9.1m. It reported 191 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.