Several Sources Shelters Inc

Analysis

Several Sources Shelters Inc is a registered charity in United States, based in Ramsey, NJ. It received its IRS tax-exemption ruling in June 1983, 43 years ago. 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, Several Sources Shelters Inc reported income of $2.1m and spending of $2.2m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $2.1m (-3.8%), an average of -1.0% a year. The sharpest change came in the year to December 2022, when income dropped by 25%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Several Sources Shelters 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 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include O L L Education Services ($2.1m), New Milford Community Ambulance Corp ($2.1m) and Habitat for Humanity International Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $354k (16% of expenses). Other salaries and wages came to $650k. At year end it held assets of $9.9m against liabilities of $195k, net assets of $9.7m. It reported 17 employees.