Young Mens Christian Association of the Palm Beaches Inc

Analysis

Young Mens Christian Association of the Palm Beaches Inc is a registered charity in United States, based in Lake Worth, FL. It received its IRS tax-exemption ruling in November 1949, 77 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 December 2023, Young Mens Christian Association of the Palm Beaches Inc reported income of $4.3m and spending of $1.9m, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $4.3m (+69%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 368%. Over the whole period it spent 41% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Young Mens Christian Association of the Palm Beaches Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Covenant House Missouri ($4.3m), Front Line Farming Inc ($4.3m) and Port Angeles Food Bank ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $187k (9.7% of expenses). Other salaries and wages came to $814k. It paid $72k in professional fundraising fees. At year end it held assets of $16.3m against liabilities of $853k, net assets of $15.4m. It reported 94 employees.