Salem Community Corp

Analysis

Salem Community Corp is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in August 1985, 41 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 December 2023, Salem Community Corp reported income of $25.5m and spending of $27.0m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.6m to $25.5m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2020, when income rose by 16%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Salem Community Corp sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Bair Foundation ($25.4m), Coastal Community Action Program ($25.5m) and C E F S Economic Opportunity Corp ($25.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 87% of the total. Other salaries and wages came to $8.2m. At year end it held assets of $73.6m against liabilities of $84.4m, net assets of -$10.8m. It reported 346 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.