Silvercrest Inc

Analysis

Silvercrest Inc is a registered charity in United States, based in Fresno, CA. It received its IRS tax-exemption ruling in February 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Silvercrest Inc reported income of $6.5m and spending of $13.5m, spending 208% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $694k to $6.5m (+834%), an average of +75% a year. The sharpest change came in the year to December 2020, when income rose by 3269%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Silvercrest Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Tent City Corporation ($6.5m), 90 Sands Housing Development Fund Corporation ($6.5m) and Interfaith Sanctuary Housingservices Inc ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 33% of the total. Other salaries and wages came to $210k. At year end it held assets of $21.4m against liabilities of $13.8m, net assets of $7.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.