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Matthew 25 INC FY2023 filing

Tax-deductible

Worcester, MA501(c)(3) EIN 22-2967513Revenue $417K in FY2023Latest return filed Nov 28, 2025

On file with the IRSmatt25.orgWorcester, MATax-exempt since May 1989Publicly supported charity — 170(b)(1)(A)(vi)

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Purchase and renovate distressed residential properties. Rent renovated properties to low income individuals and families. Food and other relief for the poor.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $90K a year · 21% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $17K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$88K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$417K
-0.6% vs prior year
Spent
$324K
To programs
92%
Net assets
$2.2M
By yearFY2021–FY2025
Revenue
$417K
FY2023▼ -0.6%
Tap a bar for its year
Revenue by fiscal year
FY2021$354K
FY2022$419K
FY2023$417K
FY2024$370K
FY2025$537K
Expenses
$324K
FY2023▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2021$329K
FY2022$295K
FY2023$324K
FY2024$325K
FY2025$375K
Net assets
$2.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.9M
FY2022$2.0M
FY2023$2.2M
FY2024$2.3M
FY2025$2.5M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $298K Management & general 7% · $24K Fundraising 1% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Seth Roman
Director
$0Pt VII · Sec A
Mark Ferrari
Treasurer
$0Pt VII · Sec A
Frederick Enman
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Matthew 25 INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Buys and fixes up homes, then rents them to low-income families, also providing food and aid.

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1 program · $298K · in their own filed words · FY2022
01

Provide housing, food and other services to people in need.

$298Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$17K
Total grants receivedfrom 1 funder$17K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$417K
Ln 12
Fees for servicesLn 2g$220K
Gifts and grantsLn 1h$194K
Investment incomeLn 3$3K
Money outPt IX
$324K
Ln 25
Programscol B$298K
Managementcol C$24K
Fundraisingcol D$2K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$313K
Total assetsLn 16$2.3M
LiabilitiesLn 26$88K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$194K
Fees for servicesLn 2g$220K
Investment incomeLn 3$3K
Total revenueLn 12$417K
Assets in detailPt X, end of year
CashLn 1$46K
SavingsLn 2$267K
Cash and savings togetherLn 1–2$313K
Accounts receivableLn 4$18K
Land, buildings, equipmentLn 10c$1.1M
Intangible assetsLn 14$2K
Other assetsLn 15$851K
Total assetsLn 16$2.3M
LiabilitiesLn 26$88K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6150
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$263K$313K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$2.1M$2.3M
LiabilitiesLn 26$103K$88K
Net assetsLn 32$2.0M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$8K$7K$1K
Payroll taxesLn 10$557$468$89
Management feesLn 11a$26K$26K
Accounting feesLn 11c$19K$19K
Office expensesLn 13$8K$4K$4K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$76K$76K
InsuranceLn 23$17K$17K
Other expenses (24a–d)Ln 24$155K$153K$2K
All other expensesLn 24e$12K$12K
Total functional expensesLn 25$324K$298K$24K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Nov 28, 2025 $537K$375K$162K$2.5M 990 PDF
FY2024Filed with the IRS Jan 27, 2025 $370K$325K$45K$2.3M 990 PDF
FY2023 ViewingFiled with the IRS Nov 21, 2023 $417K$324K$93K$2.2M 990 PDF
FY2022Filed with the IRS Nov 14, 2022 $419K$295K$124K$2.0M 990 PDF
FY2021Filed with the IRS Nov 10, 2021 $354K$329K$25K$1.9M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2023 990
Part I · Summary $416,885 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $204,121$193,602
I-9 Program service revenuePrior year $215,277$220,435
I-10 Investment incomePrior year $20$2,848
I-11 Other revenue$0
I-12 Total revenuePrior year $419,418$416,885
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$8,769
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $295,411$315,111
I-18 Total expensesPrior year $295,411$323,880
I-19 Revenue less expensesPrior year $124,007$93,005
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $416,885 across 5 lines filed
VIII-1f All other contributions, gifts and grants$193,602
VIII-1h Total contributions, gifts and grants$193,602
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,435$220,435
VIII-3 Investment incomeRelated to mission $2,848$2,848
VIII-12 Total revenueRelated to mission $223,283 · Unrelated business $0 · Excluded from tax $0$416,885
Part IX · Statement of functional expenses $323,880 across 10 lines filed
IX-7 Other salaries and wagesPrograms $6,986 · Management $1,226$8,212
IX-10 Payroll taxesPrograms $468 · Management $89$557
IX-11a Management feesPrograms $26,459$26,459
IX-11c Accounting feesManagement $18,900$18,900
IX-13 Office expensesPrograms $3,850 · Management $3,850$7,700
IX-20 InterestPrograms $1,851$1,851
IX-22 Depreciation, depletion and amortizationPrograms $76,203$76,203
IX-23 InsurancePrograms $17,432$17,432
IX-24 Other expenses (24a–d)Programs $153,285 · Fundraising $1,624$154,909
IX-24e All other expensesPrograms $11,657$11,657
IX-25 Total functional expensesPrograms $298,191 · Management $24,065 · Fundraising $1,624$323,880
Part X · Balance sheet $2,250,421 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $243,191$46,084
X-2 Savings and temporary cash investmentsStart of year $19,997$266,848
X-4 Accounts receivableStart of year $20,270$17,624
X-10c Land, buildings and equipment, netStart of year $1,143,259$1,067,056
X-14 Intangible assetsStart of year $2,000$2,000
X-15 Other assetsStart of year $691,699$850,809
X-16 Total assetsStart of year $2,120,416$2,250,421
X-17 Accounts payable and accrued expensesStart of year $56,897$54,170
X-23 Secured mortgages and notes payableStart of year $46,000$34,000
X-26 Total liabilitiesStart of year $102,897$88,170
X-27 Net assets without donor restrictionsStart of year $1,800,699$1,923,704
X-28 Net assets with donor restrictionsStart of year $216,820$238,547
X-32 Total net assets or fund balancesStart of year $2,017,519$2,162,251
X-33 Total liabilities and net assetsStart of year $2,120,416$2,250,421
Part XI · Reconciliation of net assets $2,162,251 net assets at year end
XI-1 Total revenue$416,885
XI-2 Total expenses$323,880
XI-3 Revenue less expenses$93,005
XI-4 Net assets at start of year$2,017,519
XI-5 Net unrealized gains (losses) on investments$21,727
XI-6 Donated services and use of facilities$30,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,162,251

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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