Maryland Philanthropy Network Inc

Analysis

Maryland Philanthropy Network Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in March 1984, 42 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 December 2023, Maryland Philanthropy Network Inc reported income of $7.1m and spending of $6.2m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $7.1m (+339%), an average of +45% a year. The sharpest change came in the year to December 2020, when income rose by 236%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maryland Philanthropy Network Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include Caroline Center Inc ($7.1m), Beer Hagolah Institutes Inc ($7.1m) and Marshall-Starke Development Center Inc ($7.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 7.4% of the total. Compensation of current officers, directors and key employees was $355k (5.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $6.7m against liabilities of $651k, net assets of $6.1m. It reported 41 employees.