Skillsource Group Inc

Analysis

Skillsource Group Inc is a registered charity in United States, based in MC Lean, VA. It received its IRS tax-exemption ruling in March 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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, Skillsource Group Inc reported income of $7.6m and spending of $7.7m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $5.8m to $7.6m (+31%), an average of +9.4% a year. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Skillsource Group Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Wellington Management Foundation ($7.5m), Life You Can Save ($7.6m) and Jewish Federation of Columbus ($7.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $255k (3.3% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $3.4m against liabilities of $2.8m, net assets of $587k. It reported 209 employees.