Volunteers of America Inc

Analysis

Volunteers of America Inc is a registered charity in United States, based in Sheridan, WY. It received its IRS tax-exemption ruling in May 1965, 61 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Volunteers of America Inc reported income of $55.9m and spending of $42.4m, leaving 24% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $19.1m to $55.9m (+193%), an average of +43% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Volunteers of America Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within WY. Charities of a similar size with the same main cause include Kitsap Mental Health Service ($55.7m), Museum of the Bible Inc ($56.0m) and Neighborhood Health Center of Wny Inc ($55.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $974k (2.3% of expenses). Other salaries and wages came to $18.9m. At year end it held assets of $56.5m against liabilities of $11.0m, net assets of $45.5m. It reported 584 employees.