Furnishing Hope of Massachusetts Inc

Analysis

Furnishing Hope of Massachusetts Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in August 2012, 14 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 December 2023, Furnishing Hope of Massachusetts Inc reported income of $221k and spending of $184k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $175k to $221k (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Furnishing Hope of Massachusetts Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include Senior Veterans Inc ($221k), Shell Prarie Agriculture Association ($221k) and Happen Inc ($221k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.6% of the total. Other salaries and wages came to $47k. At year end it held assets of $64k against liabilities of $0, net assets of $64k. It reported 1 employees.