Soldotna Area Senior Citizens Inc

Analysis

Soldotna Area Senior Citizens Inc is a registered charity in United States, based in Soldotna, AK. It received its IRS tax-exemption ruling in November 1986, 40 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, Soldotna Area Senior Citizens Inc reported income of $532k and spending of $1.3m, spending 245% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $789k to $532k (-33%), an average of -9.4% a year. The sharpest change came in the year to June 2023, when income dropped by 55%. Over the whole period it spent 125% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soldotna Area Senior Citizens Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within AK. Charities of a similar size with the same main cause include Angel of Life Services Inc ($532k), P O M O C Inc ($532k) and Gan Israel Preschool ($532k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $56k (4.3% of expenses). Other salaries and wages came to $417k. At year end it held assets of $3.0m against liabilities of $181k, net assets of $2.8m. It reported 35 employees.

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.