Elder Services of Worcester Area Inc

Analysis

Elder Services of Worcester Area Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in January 1975, 51 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Elder Services of Worcester Area Inc reported income of $39.8m and spending of $38.1m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $33.9m to $39.8m (+17%), an average of +5.5% a year. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Elder Services of Worcester Area Inc sits at the 92nd percentile: it is larger than about 92% 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 Ferncliff Nursing Home Company Inc ($39.8m), A New Leaf Inc ($39.9m) and M a C T Health Board Incorporated ($39.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $256k (0.7% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $28.3m against liabilities of $10.1m, net assets of $18.2m. It reported 299 employees.