Groundtruth Project Inc

Analysis

Groundtruth Project Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Groundtruth Project Inc reported income of $7.5m and spending of $10.2m, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.9m to $7.5m (-15%), an average of -4.1% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Groundtruth Project Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Main Street Launch ($7.5m), Twin Valley Developmental Services Inc ($7.5m) and District Council 37 Educational Fund ($7.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.1m (11% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $6.0m against liabilities of $896k, net assets of $5.1m. It reported 48 employees.