Medsource Community Services Inc

Analysis

Medsource Community Services Inc is a registered charity in United States, based in Hagerstown, MD. It received its IRS tax-exemption ruling in March 1990, 36 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, Medsource Community Services Inc reported income of $24.2m and spending of $23.1m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $21.4m to $24.2m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Medsource Community Services Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Latino Community Foundation ($24.2m), Share of New Square Inc ($24.2m) and Community Bridges ($24.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $545k (2.4% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $16.8m against liabilities of $8.3m, net assets of $8.5m. It reported 154 employees.