Elevate New England Inc

Analysis

Elevate New England Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Elevate New England Inc reported income of $1.5m and spending of $1.3m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $680k to $1.5m (+121%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 84% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Elevate New England Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Columbus Fashion Initiative ($1.5m), Denver Youth Program ($1.5m) and Homeword ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $207k (16% of expenses). Other salaries and wages came to $580k. It paid $65k in professional fundraising fees. At year end it held assets of $1.3m against liabilities of $94k, net assets of $1.2m. It reported 20 employees.