Somerville Senior Citizens Housing Inc

Analysis

Somerville Senior Citizens Housing Inc is a registered charity in United States, based in Somerville, NJ. It received its IRS tax-exemption ruling in March 1979, 47 years ago. 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 March 2024, Somerville Senior Citizens Housing Inc reported income of $2.8m and spending of $2.1m, leaving 25% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $2.4m to $2.8m (+17%), an average of +4.1% a year. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somerville Senior Citizens Housing Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Fellowship of Associates of Medical Evangelism Inc ($2.8m), Marion County Services Inc ($2.8m) and Bnai Shalom Synagogue ($2.8m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 65% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $110k (5.2% of expenses). Other salaries and wages came to $262k. At year end it held assets of $10.0m against liabilities of $2.8m, net assets of $7.2m. It reported 6 employees.