Payomet Inc

Analysis

Payomet Inc is a registered charity in United States, based in Truro, MA. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Payomet Inc reported income of $2.0m and spending of $2.1m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.0m (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 180%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Payomet Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Discovery Museum Inc ($2.0m), Aurora Theatre Company ($2.0m) and International Life Sciences Institute ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 60% of the total. Other salaries and wages came to $593k. At year end it held assets of $923k against liabilities of $34k, net assets of $888k. It reported 26 employees.