Friends of Mvyradio Inc

Analysis

Friends of Mvyradio Inc is a registered charity in United States, based in West Tisbury, MA. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Friends of Mvyradio Inc reported income of $2.4m and spending of $2.2m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $2.4m (+2.5%), an average of +0.6% a year. The sharpest change came in the year to December 2022, when income dropped by 28%. Over the whole period it spent 69% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of Mvyradio Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Volunteer Service Bureau of Westchester Inc ($2.4m), Marijuana Policy Project Foundation ($2.4m) and Wingstop Charities ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $112k (5.2% of expenses). Other salaries and wages came to $878k. At year end it held assets of $6.0m against liabilities of $1.0m, net assets of $4.9m. It reported 27 employees.