Massachusetts LGBT Business Network Inc

Analysis

Massachusetts LGBT Business Network Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 June 2023, Massachusetts LGBT Business Network Inc reported income of $546k and spending of $298k, leaving 45% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $60k to $546k (+810%), an average of +109% a year. The sharpest change came in the year to June 2023, when income rose by 1654%. Over the whole period it spent 66% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Massachusetts LGBT Business Network Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Norwalk Area United Fund ($546k), Impact Austin Foundation ($546k) and Averitt Express Associates Charities ($545k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $264k against liabilities of $0, net assets of $264k.