Maryland Vietnamese Mutual Association Inc

Analysis

Maryland Vietnamese Mutual Association Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in May 1983, 43 years ago. 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 2023, Maryland Vietnamese Mutual Association Inc reported income of $275k and spending of $247k, spending 90% of its income. Across the 2 years on record, from June 2021 to June 2023, income grew from $105k to $275k (+163%), an average of +163% a year. The sharpest change came in the year to June 2023, when income rose by 163%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maryland Vietnamese Mutual Association Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within MD. Charities of a similar size with the same main cause include Kansas Homestead Rehabilitation ($275k), New England League of Middle School ($275k) and Tuscarora Township Volunteer Fire Assoc Inc ($275k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $54k (22% of expenses). Other salaries and wages came to $43k. At year end it held assets of $328k against liabilities of $95k, net assets of $233k. It reported 2 employees.