Broadmead Inc

Analysis

Broadmead Inc is a registered charity in United States, based in Cockeysville, MD. It received its IRS tax-exemption ruling in June 1976, 50 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 June 2023, Broadmead Inc reported income of $37.0m and spending of $36.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $29.5m to $37.0m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Broadmead Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include Young Mens Christian Association of Northwest North Carolina ($37.0m), Lutheran Family Services in the Carolinas Inc ($37.0m) and South Shore Elder Services Inc ($36.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.7m (4.7% of expenses). Other salaries and wages came to $12.9m. At year end it held assets of $208.0m against liabilities of $138.8m, net assets of $69.2m. It reported 335 employees.