Malta House Inc

Analysis

Malta House Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Malta House Inc reported income of $2.0m and spending of $2.2m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $2.0m (+29%), an average of +6.5% a year. The sharpest change came in the year to June 2020, when income rose by 16%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Malta House Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within MD. Charities of a similar size with the same main cause include Traverse Area Recreation & Transportation Trails Inc ($2.0m), Keene Valley Neighborhood Services Inc ($2.0m) and Compass Affordable Housing Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.1% and program service revenue 96% of the total. At year end it held assets of $1.6m against liabilities of $573k, net assets of $1.0m.

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.