Servicesource Inc

Analysis

Servicesource Inc is a registered charity in United States, based in Oakton, VA. It received its IRS tax-exemption ruling in September 1972, 54 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Servicesource Inc reported income of $152.4m and spending of $148.4m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $140.2m to $152.4m (+8.7%), an average of +2.8% a year. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Servicesource Inc 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 Wayne-Metropolitan Community Action Agency ($143.3m), Alamo Workforce Development Inc ($152.6m) and Mexican American Opportunity Foundation ($141.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.8m (1.9% of expenses). Other salaries and wages came to $56.2m. At year end it held assets of $97.3m against liabilities of $36.0m, net assets of $61.3m. It reported 1,599 employees.