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October 26, 2021
Revenue Down 8.3%, Assets Up 1% at Largest Mass. Nonprofits

September 16, 2021 — Total revenue for the top 25 nonprofits in Massachusetts dropped 8.3% last year, compared to the year before, reflecting the impact of the coronavirus pandemic, although the combined assets of the 25 largest nonprofits increased 1% from the year before, according to a newly published ranking of the state’s largest nonprofits.

The listing was recently published by the Boston Business Journal (BBJ), which ranked the largest Bay State nonprofits based on total assets.

According to the BBJ, Combined Jewish Philanthropies of Greater Boston remained the largest nonprofit, with $1.69 billion in assets, down 6.2% from the year before.

The next largest nonprofits in 2020, in terms of assets, were:

Posting the largest increases in assets were:

The top revenue-generating nonprofit in 2020, according to the BBJ, was Seven Hills Foundation, which posted $262 million in revenue, up 16.6% from $229 million the year before.

However, the Institute of Contemporary Art/Boston registered the largest percentage increase in revenue from 2019 to 2020, up 29.0% to$18.8 million.

Experiencing the largest revenue decline, was the Peabody Essex Museum, which saw revenue drop by 59.9%, from $51.9 million in 2019 to $20.8 million in 2020. However, its assets increased by $8 million to $715 million.

The 23 largest Massachusetts nonprofits which reported number of employees, on average generated $151,198 in revenue per employee last year, up 2.3% from the prior year.

Similar to the for-profit sector, revenue-per-employee in the nonprofit sector is influenced by the market served. More labor intensive organizations yield lower revenue-per-employee than less labor intensive nonprofits. In addition, the degree to which an organization depends on volunteers may enable it to rely on fewer paid staff.

The Appalachian Mountain Club relied most intensively on employees, posting a ratio of 92.3 volunteers per employee. The volunteer/employee ratio as a whole for the 23 largest nonprofits reporting these numbers was 1.5.

Asset and revenue data were voluntarily supplied by the organizations ranked and reflects totals for the most recent fiscal year for those nonprofits.

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