Black Economic Council of Massachusetts Inc

Analysis

Black Economic Council of Massachusetts Inc is a registered charity in United States, based in Roxbury Crossing, MA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover social science, which this site groups under arts, culture, heritage and science. 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, Black Economic Council of Massachusetts Inc reported income of $4.4m and spending of $4.9m, spending 111% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.6m to $4.4m (+175%), an average of +40% a year. The sharpest change came in the year to December 2022, when income rose by 173%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Black Economic Council of Massachusetts Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Peoples Light & Theatre Co ($4.4m), Playa ($4.4m) and Society for Preservation & Encrgmnt of Barbershop Quartet ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $3.4m against liabilities of $1.6m, net assets of $1.9m. It reported 25 employees.