Central Massachusetts Center for Business and Enterprise Inc

Analysis

Central Massachusetts Center for Business and Enterprise Inc is a registered charity in United States, based in Whitinsville, MA. It received its IRS tax-exemption ruling in November 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, 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 June 2024, Central Massachusetts Center for Business and Enterprise Inc reported income of $1.2m and spending of $1.2m, spending 96% of its income. Across the 6 years on record, from September 2019 to June 2024, income grew from $350k to $1.2m (+244%), an average of +28% a year. The sharpest change came in the year to June 2024, when income rose by 189%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Central Massachusetts Center for Business and Enterprise Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Racine-Kenosha Plumbers & Steam- Fitters Education Fund ($1.2m), Blake Holding Corporation ($1.2m) and Uwm Research Foundation Inc ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 77% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $65k (5.6% of expenses). Other salaries and wages came to $648k. At year end it held assets of $1.4m against liabilities of $245k, net assets of $1.1m. It reported 16 employees.