Newark Senior Center Inc

Analysis

Newark Senior Center Inc is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in September 1967, 59 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 June 2023, Newark Senior Center Inc reported income of $4.2m and spending of $2.5m, leaving 42% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $4.2m (+128%), an average of +23% a year. The sharpest change came in the year to June 2023, when income rose by 127%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newark Senior Center Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within DE. Charities of a similar size with the same main cause include Spaulding for Children Dba Arms Wide ($4.2m), Brockton Day Nursery Inc ($4.2m) and Puerto Rican Association for Human Development Incorporated ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $122k (4.9% of expenses). Other salaries and wages came to $763k. At year end it held assets of $9.2m against liabilities of $272k, net assets of $8.9m. It reported 32 employees.