Senior Services Inc

Analysis

Senior Services Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in August 1977, 49 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, Senior Services Inc reported income of $19.7m and spending of $8.4m, leaving 57% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.5m to $19.7m (+256%), an average of +37% a year. The sharpest change came in the year to June 2022, when income rose by 113%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Senior 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 98th percentile within NC. Charities of a similar size with the same main cause include Lydia Home Association ($19.7m), California-Nevada Methodist Homes I NC ($19.7m) and Mactown Inc ($19.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.1% of the total. Compensation of current officers, directors and key employees was $570k (6.8% of expenses). Other salaries and wages came to $3.9m. It paid $50k in professional fundraising fees. At year end it held assets of $31.7m against liabilities of $3.7m, net assets of $28.0m. It reported 144 employees.