Canaan Senior Service Center Inc

Analysis

Canaan Senior Service Center Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1983, 43 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, Canaan Senior Service Center Inc reported income of $472k and spending of $458k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $544k to $472k (-13%), an average of -3.5% a year. The sharpest change came in the year to June 2021, when income dropped by 22%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Canaan Senior Service Center Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Mercy Hilltop Center Inc ($472k), Rio Grande Valley Linking Economic and Academic Development RGV Lead ($472k) and Morris W Stroud 3rd TR U-W Pennswood 2 ($472k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $66k (14% of expenses). Other salaries and wages came to $200k. At year end it held assets of $114k against liabilities of $97k, net assets of $17k. It reported 12 employees.