Peter Frates Family Foundation Inc

Analysis

Peter Frates Family Foundation Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Peter Frates Family Foundation Inc reported income of $177k and spending of $299k, spending 169% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $371k to $177k (-52%), an average of -17% a year. The sharpest change came in the year to December 2021, when income dropped by 29%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Peter Frates Family Foundation Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 55th percentile within MA. Charities of a similar size with the same main cause include Hearts & Ears Inc ($177k), Mobile Medics International ($177k) and Mercy Trips Healthcare Outreach ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $84k against liabilities of $0, net assets of $84k.