Southern Tier Independence Center Inc

Analysis

Southern Tier Independence Center Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in November 1984, 42 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 December 2023, Southern Tier Independence Center Inc reported income of $22.5m and spending of $16.6m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.9m to $22.5m (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Southern Tier Independence Center Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Central Kentucky Community Action Council Inc ($22.5m), National Domestic Violence Hotline ($22.5m) and Kitsap Community Resources ($22.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $289k (1.7% of expenses). Other salaries and wages came to $11.6m. At year end it held assets of $14.8m against liabilities of $1.5m, net assets of $13.4m. It reported 819 employees.