Services for the Aged Inc

Analysis

Services for the Aged Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Services for the Aged Inc reported income of $31.5m and spending of $32.5m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $47.4m to $31.5m (-33%), an average of -9.7% a year. The sharpest change came in the year to June 2020, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Services for the Aged 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 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Young Mens Christian Association of the Fox Cities Inc ($31.5m), Collington Episcopal Life Care Community Inc ($31.5m) and Avow Hospice Inc ($31.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.7% and program service revenue 96% of the total. Other salaries and wages came to $23.0m. At year end it held assets of $10.1m against liabilities of $8.8m, net assets of $1.3m. It reported 887 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.