Gnome Inc

Analysis

Gnome Inc is a registered charity in United States, based in Fall River, MA. It received its IRS tax-exemption ruling in March 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gnome Inc reported income of $811k and spending of $314k, leaving 61% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $400k to $811k (+103%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 72%. Over the whole period it spent 41% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Gnome Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Network for Hope Memorial Fund ($811k), Soroptimist House of Hope Inc ($811k) and Black Men Heal ($811k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $81k (26% of expenses). At year end it held assets of $1.1m against liabilities of $29k, net assets of $1.1m. It reported 1 employees.