Central Boston Elder Services Inc

Analysis

Central Boston Elder Services Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Central Boston Elder Services Inc reported income of $86.9m and spending of $86.7m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $67.4m to $86.9m (+29%), an average of +6.5% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Central Boston Elder Services Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Western Reserve Area Agency on Aging ($86.7m), Urban Resource Institute ($87.4m) and Menorah Park Center for Senior Living ($86.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $403k (0.5% of expenses). Other salaries and wages came to $11.4m. At year end it held assets of $40.4m against liabilities of $15.4m, net assets of $25.0m. It reported 168 employees.