Veterans Multi-Service Center Inc

Analysis

Veterans Multi-Service Center Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 2023, Veterans Multi-Service Center Inc reported income of $18.2m and spending of $17.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.6m to $18.2m (+71%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans Multi-Service 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 PA. Charities of a similar size with the same main cause include Catholic Charities ($18.2m), The One Campaign ($18.3m) and The Conservancy of Southwest Florida Inc ($18.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $443k (2.5% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $6.5m against liabilities of $2.6m, net assets of $3.9m. It reported 214 employees.