Elderlife Inc

Analysis

Elderlife Inc is a registered charity in United States, based in Utica, NY. It received its IRS tax-exemption ruling in March 1999, 27 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 2024, Elderlife Inc reported income of $2.5m and spending of $1.1m, leaving 58% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.0m to $2.5m (+153%), an average of +26% a year. The sharpest change came in the year to June 2024, when income rose by 184%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elderlife Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Eden Youth Center Inc ($2.5m), Maui Day Care Center for Senior Citizens and Disabled ($2.5m) and The Centre for Women Inc ($2.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 68% and program service revenue 32% of the total. Other salaries and wages came to $461k. At year end it held assets of $3.0m against liabilities of $638k, net assets of $2.4m. It reported 22 employees.