Magoffin County Senior Citizens Inc

Analysis

Magoffin County Senior Citizens Inc is a registered charity in United States, based in Salyersville, KY. It received its IRS tax-exemption ruling in February 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, Magoffin County Senior Citizens Inc reported income of $273k and spending of $238k, spending 87% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $246k to $273k (+11%), an average of +5.3% a year. The sharpest change came in the year to June 2023, when income rose by 29%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magoffin County Senior Citizens Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within KY. Charities of a similar size with the same main cause include Little Sisters of the Poor St Louis Residence ($273k), Society of St Vincent de Paul District Council of Tyler ($273k) and Low Birth Weight Development Center ($273k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $31k (13% of expenses). Other salaries and wages came to $82k. At year end it held assets of $285k against liabilities of $2,930, net assets of $282k. It reported 9 employees.