Volunteers of America Inc

Analysis

Volunteers of America Inc is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in May 1965, 61 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Volunteers of America Inc reported income of $1.6m and spending of $1.4m, spending 86% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.2m to $1.6m (+33%), an average of +5.9% a year. The sharpest change came in the year to June 2024, when income rose by 22%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Volunteers of America Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within ME. Charities of a similar size with the same main cause include Local 103 Ibew Educational Corp ($1.6m), Erin Is Hope Foundation Inc ($1.6m) and Community 43 ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 87% of the total. At year end it held assets of $3.4m against liabilities of $3.1m, net assets of $280k.