Services for the Underserved Inc

Analysis

Services for the Underserved Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2006, 20 years ago. 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, Services for the Underserved Inc reported income of $34.6m and spending of $29.1m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.0m to $34.6m (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2022, when income rose by 53%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Services for the Underserved Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include National Industries for the Blind ($34.5m), Peregrine Fund Inc ($34.6m) and Chinatown Service Center ($34.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.1% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $1.0m (3.6% of expenses). Other salaries and wages came to $9.4m. At year end it held assets of $104.8m against liabilities of $35.6m, net assets of $69.2m. It reported 2,130 employees.