Mae Volen Senior Center Inc

Analysis

Mae Volen Senior Center Inc is a registered charity in United States, based in Boca Raton, FL. It received its IRS tax-exemption ruling in May 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mae Volen Senior Center Inc reported income of $10.9m and spending of $11.4m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $10.9m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mae Volen Senior Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Kintock Group Inc ($10.9m), Equity Health ($10.9m) and Florida Rural Legal Services Inc ($10.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $698k (6.1% of expenses). At year end it held assets of $16.9m against liabilities of $1.7m, net assets of $15.3m. It reported 82 employees.