Spanish Speaking Elderly Council - Raices Inc

Analysis

Spanish Speaking Elderly Council - Raices Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1988, 38 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, Spanish Speaking Elderly Council - Raices Inc reported income of $3.5m and spending of $3.3m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $3.5m (+12%), an average of +2.9% a year. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spanish Speaking Elderly Council - Raices Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Midwest Stone Institute ($3.5m), Hospice of Fulton County Inc ($3.5m) and New York Ski Education Foundation Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $190k (5.7% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $2.5m against liabilities of $2.0m, net assets of $435k. It reported 43 employees.