Mary Free Bed Insurance Company PCC

Analysis

Mary Free Bed Insurance Company PCC is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Mary Free Bed Insurance Company PCC reported income of $2.3m and spending of $1.7m, leaving 25% of income unspent that year. Across the 3 years on record, from March 2021 to March 2023, income grew from $428k to $2.3m (+441%), an average of +132% a year. The sharpest change came in the year to March 2022, when income rose by 391%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mary Free Bed Insurance Company PCC sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.3m), Habitat for Humanity International Inc ($2.3m) and Instituto de Educacion Popular Del Sur de California ($2.3m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $4.8m against liabilities of $3.0m, net assets of $1.8m.