Element Care Inc

Analysis

Element Care Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Element Care Inc reported income of $110.0m and spending of $106.0m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $89.3m to $110.0m (+23%), an average of +5.4% a year. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Element Care 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 El Centro Del Barrio Inc ($109.6m), Sequoia Living Inc ($111.0m) and Homeless Action Network of Detroit ($109.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.9m (1.8% of expenses). Other salaries and wages came to $26.3m. At year end it held assets of $113.4m against liabilities of $26.7m, net assets of $86.7m. It reported 348 employees.