Masonicare at Mystic Inc

Analysis

Masonicare at Mystic Inc is a registered charity in United States, based in Wallingford, CT. It received its IRS tax-exemption ruling in March 2015, 11 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 September 2023, Masonicare at Mystic Inc reported income of $627k and spending of $1.6m, spending 256% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $236k to $627k (+166%), an average of +28% a year. The sharpest change came in the year to September 2021, when income rose by 287%. Over the whole period it spent 247% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Masonicare at Mystic Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within CT. Charities of a similar size with the same main cause include Cornerstone Assistance Network of North Central Texas ($627k), Rotary Club of Coronado Foundation ($627k) and Catalyst Intl Vision Inc ($627k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $29.0m against liabilities of $25.9m, net assets of $3.1m. It reported 153 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.