Suits for Seniors Inc

Analysis

Suits for Seniors Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Suits for Seniors Inc reported income of $423k and spending of $410k, spending 97% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $257k to $423k (+64%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 46%. 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, Suits for Seniors Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 70th percentile within FL. Charities of a similar size with the same main cause include Murray County Developmental Center Inc ($422k), Western New York Center for the Visually Impaired Inc ($423k) and University District Development Association ($422k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $82k (20% of expenses). Other salaries and wages came to $65k. At year end it held assets of $124k against liabilities of $85k, net assets of $39k. It reported 2 employees.