Somerville-Cambridge Elder Services Incorporated

Analysis

Somerville-Cambridge Elder Services Incorporated is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in April 1973, 53 years ago. 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 June 2023, Somerville-Cambridge Elder Services Incorporated reported income of $37.4m and spending of $36.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $38.3m to $37.4m (-2.4%), an average of -0.6% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somerville-Cambridge Elder Services Incorporated sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include St Mary S Elderly Housing Corporation Inc ($37.4m), Jamaica Hospital Nursing Home Inc ($37.4m) and Swords to Plowshares Veterans Rights Organization ($37.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $379k (1.0% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $26.1m against liabilities of $8.9m, net assets of $17.2m. It reported 170 employees.