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Matthew 25 INC FY2024 filing

Tax-deductible

Worcester, MA501(c)(3) EIN 22-2967513Revenue $370K in FY2024Latest 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.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
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
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
91% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
11.9 mo
of spending, in cash
11.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $17K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$64K
3% of total assets
Liabilities are 3% of assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
8 of 8 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$370K
-11% vs prior year
Spent
$325K
To programs
91%
Net assets
$2.3M
By yearFY2021–FY2025
Revenue
$370K
FY2024▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2021$354K
FY2022$419K
FY2023$417K
FY2024$370K
FY2025$537K
Expenses
$325K
FY2024+0.2%
Tap a bar for its year
Expenses by fiscal year
FY2021$329K
FY2022$295K
FY2023$324K
FY2024$325K
FY2025$375K
Net assets
$2.3M
FY2024▲ +5%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

91 cents of each dollar spent went to programs.

Program services 91% · $297K Management & general 8% · $27K Fundraising 0% · $648

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 (FY2023); the FY2024 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 · $297K · in their own filed words · FY2023
01

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

$297Kprogram 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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$370K
Ln 12
Fees for servicesLn 2g$214K
Gifts and grantsLn 1h$148K
Investment incomeLn 3$8K
Money outPt IX
$325K
Ln 25
Programscol B$297K
Managementcol C$27K
Fundraisingcol D$648
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$322K
Total assetsLn 16$2.3M
LiabilitiesLn 26$64K
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$148K
Fees for servicesLn 2g$214K
Investment incomeLn 3$8K
Total revenueLn 12$370K
Assets in detailPt X, end of year
CashLn 1$51K
SavingsLn 2$271K
Cash and savings togetherLn 1–2$322K
Accounts receivableLn 4$20K
Land, buildings, equipmentLn 10c$996K
Intangible assetsLn 14$2K
Other assetsLn 15$999K
Total assetsLn 16$2.3M
LiabilitiesLn 26$64K
Net assetsLn 32$2.3M
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 FY24End FY24
Cash and savingsLn 1–2$313K$322K
Land, buildings, equipmentLn 10c$1.1M$996K
Total assetsLn 16$2.3M$2.3M
LiabilitiesLn 26$88K$64K
Net assetsLn 32$2.2M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$19K$16K$3K
Payroll taxesLn 10$2K$1K$230
Management feesLn 11a$25K$25K
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$8K$8K
Office expensesLn 13$5K$5K
TravelLn 17$49$49
InterestLn 20$701$701
Depreciation, depletion and amortizationLn 22$71K$71K
InsuranceLn 23$18K$18K
Other expenses (24a–d)Ln 24$169K$168K$648
All other expensesLn 24e−$3K−$3K
Total functional expensesLn 25$325K$297K$27K$648

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Nov 28, 2025 $537K$375K$162K$2.5M 990 PDF
FY2024 ViewingFiled with the IRS Jan 27, 2025 $370K$325K$45K$2.3M 990 PDF
FY2023Filed 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 FY2024 990
Part I · Summary $369,854 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $193,602$147,945
I-9 Program service revenuePrior year $220,435$214,131
I-10 Investment incomePrior year $2,848$7,778
I-11 Other revenue$0
I-12 Total revenuePrior year $416,885$369,854
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $8,769$20,669
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $315,111$303,941
I-18 Total expensesPrior year $323,880$324,610
I-19 Revenue less expensesPrior year $93,005$45,244
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 $369,854 across 5 lines filed
VIII-1f All other contributions, gifts and grants$147,945
VIII-1h Total contributions, gifts and grants$147,945
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $214,131$214,131
VIII-3 Investment incomeRelated to mission $7,778$7,778
VIII-12 Total revenueRelated to mission $221,909 · Unrelated business $0 · Excluded from tax $0$369,854
Part IX · Statement of functional expenses $324,610 across 12 lines filed
IX-7 Other salaries and wagesPrograms $16,262 · Management $2,870$19,132
IX-10 Payroll taxesPrograms $1,307 · Management $230$1,537
IX-11a Management feesPrograms $24,973$24,973
IX-11c Accounting feesManagement $11,400$11,400
IX-11g Other fees for servicesManagement $8,000$8,000
IX-13 Office expensesManagement $4,611$4,611
IX-17 TravelPrograms $49$49
IX-20 InterestPrograms $701$701
IX-22 Depreciation, depletion and amortizationPrograms $70,868$70,868
IX-23 InsurancePrograms $18,067$18,067
IX-24 Other expenses (24a–d)Programs $168,032 · Fundraising $648$168,680
IX-24e All other expensesPrograms −$3,408−$3,408
IX-25 Total functional expensesPrograms $296,851 · Management $27,111 · Fundraising $648$324,610
Part X · Balance sheet $2,338,653 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $46,084$50,578
X-2 Savings and temporary cash investmentsStart of year $266,848$270,982
X-4 Accounts receivableStart of year $17,624$20,123
X-10c Land, buildings and equipment, netStart of year $1,067,056$996,188
X-14 Intangible assetsStart of year $2,000$2,000
X-15 Other assetsStart of year $850,809$998,782
X-16 Total assetsStart of year $2,250,421$2,338,653
X-17 Accounts payable and accrued expensesStart of year $54,170$64,318
X-26 Total liabilitiesStart of year $88,170$64,318
X-27 Net assets without donor restrictionsStart of year $1,923,704$1,998,948
X-28 Net assets with donor restrictionsStart of year $238,547$275,387
X-32 Total net assets or fund balancesStart of year $2,162,251$2,274,335
X-33 Total liabilities and net assetsStart of year $2,250,421$2,338,653
Part XI · Reconciliation of net assets $2,274,335 net assets at year end
XI-1 Total revenue$369,854
XI-2 Total expenses$324,610
XI-3 Revenue less expenses$45,244
XI-4 Net assets at start of year$2,162,251
XI-5 Net unrealized gains (losses) on investments$36,840
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$2,274,335

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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