Zero Debt Massachusetts

Analysis

Zero Debt Massachusetts is a registered charity in United States, based in Canton, MA. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Zero Debt Massachusetts reported income of $400k and spending of $164k, leaving 59% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $244k to $400k (+64%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Zero Debt Massachusetts sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within MA. Charities of a similar size with the same main cause include Beauregard Community Concerns Inc ($400k), Odd Fellows Home Association of the State of New York ($400k) and Northwest Arkansas Family Child Care Association ($400k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $84k (51% of expenses). Other salaries and wages came to $53k. At year end it held assets of $277k against liabilities of $1,500, net assets of $275k. It reported 2 employees.