Ithacare Center Service Co Inc

Analysis

Ithacare Center Service Co Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in December 1977, 49 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Ithacare Center Service Co Inc reported income of $6.8m and spending of $7.1m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $7.5m to $6.8m (-10%), an average of -2.7% a year. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ithacare Center Service Co Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Not Forgotten Home and Community Services ($6.8m), Clare Housing ($6.8m) and Gaston Community Action Inc ($6.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $259k (3.7% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $26.0m against liabilities of $14.3m, net assets of $11.7m. It reported 131 employees.