Sourceamerica

Analysis

Sourceamerica is a registered charity in United States, based in Vienna, VA. It received its IRS tax-exemption ruling in November 1974, 52 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 September 2023, Sourceamerica reported income of $197.5m and spending of $192.9m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $159.9m to $197.5m (+24%), an average of +5.4% a year. The sharpest change came in the year to September 2021, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sourceamerica sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within VA. Charities of a similar size with the same main cause include Goodwill Legacy Group Inc ($181.6m), Pride Industries One Inc ($201.7m) and Goodwill of North Georgia Inc ($179.6m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.6m (0.8% of expenses). Other salaries and wages came to $50.6m. At year end it held assets of $155.2m against liabilities of $25.9m, net assets of $129.3m. It reported 478 employees.