Volunteers of America Inc

Analysis

Volunteers of America Inc is a registered charity in United States, based in Jamaica Plain, MA. It received its IRS tax-exemption ruling in May 1965, 61 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Volunteers of America Inc reported income of $17.0m and spending of $14.5m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.5m to $17.0m (+101%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 45%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Volunteers of America Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include National University of Natural Medicine ($17.0m), Richmond the American Intl Universi Ty in London Inc ($17.0m) and Pioneer Home Incorporated ($17.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $555k (3.8% of expenses). Other salaries and wages came to $8.3m. It paid $76k in professional fundraising fees. At year end it held assets of $23.2m against liabilities of $5.7m, net assets of $17.5m. It reported 221 employees.