Colonie Senior Service Centers Inc

Analysis

Colonie Senior Service Centers Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in October 1981, 45 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, Colonie Senior Service Centers Inc reported income of $2.9m and spending of $2.3m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $2.9m (+7.8%), an average of +1.9% a year. The sharpest change came in the year to December 2023, when income rose by 20%. 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, Colonie Senior Service Centers Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Riva Refugee & Immigrant Voices in Action ($2.9m), Lee Moor Childrens Home Trust Estate ($2.9m) and Institute for Natural Resources ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $220k (9.8% of expenses). Other salaries and wages came to $951k. At year end it held assets of $47.6m against liabilities of $43.7m, net assets of $3.9m. It reported 54 employees.