Meghans Place Inc

Analysis

Meghans Place Inc is a registered charity in United States, based in Hutchinson, MN. It received its IRS tax-exemption ruling in August 2017, 9 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, Meghans Place Inc reported income of $99k and spending of $65k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $71k to $99k (+40%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Meghans Place Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 34th percentile within MN. Charities of a similar size with the same main cause include Halsey Center ($99k), McCormick Helping Hands United Inc ($99k) and Willows Community Thrift Shoppe ($99k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. At year end it held assets of $114k against liabilities of $0, net assets of $114k.