Eldersource

Analysis

Eldersource is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in October 2010, 16 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 2022, Eldersource reported income of $136k and spending of $246k, spending 182% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $64k to $136k (+111%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 119%. Over the whole period it spent 209% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Eldersource sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within FL. Charities of a similar size with the same main cause include Foundation 99 ($136k), Community Out-Reach Inc ($136k) and Emmaus House Inc ($136k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $626. At year end it held assets of $647k against liabilities of $4,311, net assets of $643k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.