Sourcewise

Analysis

Sourcewise is a registered charity in United States, based in Santa Clara, CA. It received its IRS tax-exemption ruling in June 1975, 51 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, Sourcewise reported income of $21.3m and spending of $21.3m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.6m to $21.3m (+69%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sourcewise sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Old Mans Home of Philadelphia ($21.3m), Tri-County Community Action Program Incorporated ($21.3m) and Brooklyn Chinese-American Association Inc ($21.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $797k (3.7% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $9.3m against liabilities of $7.6m, net assets of $1.7m. It reported 125 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.