Medomak Exchange

Analysis

Medomak Exchange is a registered charity in United States, based in Waldoboro, ME. It received its IRS tax-exemption ruling in October 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Medomak Exchange reported income of $210k and spending of $110k, leaving 47% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $83k to $210k (+151%), an average of +151% a year. The sharpest change came in the year to December 2023, when income rose by 151%. Over the whole period it spent 66% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Medomak Exchange sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 48th percentile within ME. Charities of a similar size with the same main cause include Child Supportive Services Inc ($210k), Boulder Housing Partners Foundation ($210k) and Saratoga Rotary Charitable Foundation ($210k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 11% of the total. Other salaries and wages came to $5,257. At year end it held assets of $110k against liabilities of -$264, net assets of $111k. It reported 4 employees.