Veterans North East Outreach Center Inc

Analysis

Veterans North East Outreach Center Inc is a registered charity in United States, based in Haverhill, MA. It received its IRS tax-exemption ruling in September 1986, 40 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, Veterans North East Outreach Center Inc reported income of $4.3m and spending of $4.4m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.6m to $4.3m (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2022, when income dropped by 21%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans North East Outreach Center Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Tully Hill Corporation ($4.3m), West River Foundation ($4.3m) and Association of School Business Officials International ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $371k (8.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $7.4m against liabilities of $6.6m, net assets of $772k. It reported 90 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.