Veterans Inc

Analysis

Veterans Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 1991, 35 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Inc reported income of $23.5m and spending of $21.1m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.6m to $23.5m (+103%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Veterans Inc 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 97th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Urac ($23.4m), Summer Search ($23.5m) and Victory Starts Now ($23.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $832k (3.9% of expenses). Other salaries and wages came to $9.4m. At year end it held assets of $27.0m against liabilities of $7.1m, net assets of $19.9m. It reported 257 employees.