SRC Inc

Analysis

SRC Inc is a registered charity in United States, based in N Syracuse, NY. It received its IRS tax-exemption ruling in October 1997, 29 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 September 2023, SRC Inc reported income of $311.5m and spending of $288.4m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $279.9m to $311.5m (+11%), an average of +2.7% a year. The sharpest change came in the year to September 2020, when income rose by 15%. 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, SRC 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 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include Johns Hopkins Community Physicians Inc ($309.4m), Loma Linda University Medical Center-Murrieta ($314.7m) and St Vincent Medical Group Inc ($303.3m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 89% of the total. Compensation of current officers, directors and key employees was $11.3m (3.9% of expenses). Other salaries and wages came to $95.4m. At year end it held assets of $402.2m against liabilities of $115.2m, net assets of $287.0m. It reported 1,638 employees.