Greater Lynn Senior Services Inc

Analysis

Greater Lynn Senior Services Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in December 1975, 51 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, Greater Lynn Senior Services Inc reported income of $56.2m and spending of $55.9m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $69.0m to $56.2m (-18%), an average of -5.0% a year. The sharpest change came in the year to June 2021, when income dropped by 41%. 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, Greater Lynn Senior Services Inc sits at the 99th 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 98th percentile within MA. Charities of a similar size with the same main cause include Kawerak Inc ($56.2m), Medical Education Assistance Corporation ($56.7m) and Imagine the Possibilities Inc ($56.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $857k (1.5% of expenses). Other salaries and wages came to $11.7m. At year end it held assets of $22.5m against liabilities of $10.4m, net assets of $12.1m. It reported 229 employees.