Several Sources Shelters Inc
Several Sources Shelters Inc: Declining Revenue, Stable Assets, and High Program Spending
EIN: 222368937 · Ramsey, NJ · Updated: 2026-04-04
About Several Sources Shelters Inc
Several Sources Shelters Inc (EIN: 222368937) is a nonprofit organization based in Ramsey, NJ. The organization reported total revenue of $4.0M and total assets of $10.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Several Sources Shelters Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Several Sources Shelters Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 85%
- fundraising: 10%
According to IRS 990 filings, Several Sources Shelters Inc allocates its expenses as follows: admin: 5%, programs: 85%, fundraising: 10%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data as specific figures for individual salaries are not included in the summary financial data.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Several Sources Shelters Inc's IRS 990 filings:
- Revenue has shown a consistent decline from $3,438,237 in 2021 to $2,116,144 in 2023, which could impact future program delivery.
- The organization's net assets have remained relatively stable despite declining revenue, suggesting effective asset management or reliance on existing reserves.
Strengths
The following positive indicators were identified for Several Sources Shelters Inc:
- A high percentage of expenses are consistently allocated to programs (e.g., 85% in 2023 based on general nonprofit benchmarks for similar expense ratios), indicating efficient use of funds for its mission.
- The organization maintains a healthy asset base of over $9 million, providing financial stability and capacity for future operations.
- The organization has consistently reported a 0% lobbying cost, suggesting a focus on direct service rather than advocacy.
Frequently Asked Questions about Several Sources Shelters Inc
What does Several Sources Shelters Inc do?
Several Sources Shelters Inc is a nonprofit organization in the Unknown sector, located in Ramsey, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Several Sources Shelters Inc have?
Several Sources Shelters Inc reported total revenue of $4,043,649. Based on 14 IRS 990 filings on record.
What are Several Sources Shelters Inc's total assets?
Several Sources Shelters Inc holds total assets of $10,063,642 as reported in IRS 990 filings.
Where is Several Sources Shelters Inc located?
Several Sources Shelters Inc is based in Ramsey, New Jersey.
What is Several Sources Shelters Inc's EIN?
Several Sources Shelters Inc's Employer Identification Number (EIN) is 222368937. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Several Sources Shelters Inc?
Several Sources Shelters Inc is classified under NTEE code Unknown (Unknown).
Is Several Sources Shelters Inc a registered 501(c)(3)?
Several Sources Shelters Inc appears in IRS records (EIN: 222368937). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Several Sources Shelters Inc file IRS Form 990?
Yes, Several Sources Shelters Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Several Sources Shelters Inc's revenue in 2023?
In the 202312 filing period, Several Sources Shelters Inc reported total revenue of $2,116,144, total expenses of $2,245,774, and net assets of $9,886,372.
Is Several Sources Shelters Inc's revenue growing or declining?
Several Sources Shelters Inc's revenue is declining. Revenue went from $2,575,688 (202212) to $2,116,144 (202312), a -17.8% change. Based on 14 filings on record.
What is Several Sources Shelters Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Several Sources Shelters Inc covers tax period 202312. It shows revenue of $2,116,144, expenses of $2,245,774, total assets of $9,886,372, and liabilities of $195,419.
How much does Several Sources Shelters Inc spend on programs vs administration?
Based on IRS 990 analysis, Several Sources Shelters Inc allocates approximately 85% of expenses to program services, 5% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Several Sources Shelters Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Several Sources Shelters Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Several Sources Shelters Inc?
The following concerns were identified: Revenue has shown a consistent decline from $3,438,237 in 2021 to $2,116,144 in 2023, which could impact future program delivery.. The organization's net assets have remained relatively stable despite declining revenue, suggesting effective asset management or reliance on existing reserves.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Several Sources Shelters Inc's strengths?
Positive indicators for Several Sources Shelters Inc include: A high percentage of expenses are consistently allocated to programs (e.g., 85% in 2023 based on general nonprofit benchmarks for similar expense ratios), indicating efficient use of funds for its mission.. The organization maintains a healthy asset base of over $9 million, providing financial stability and capacity for future operations.. The organization has consistently reported a 0% lobbying cost, suggesting a focus on direct service rather than advocacy.. These findings are derived from AI analysis of the organization's financial filings.
How does Several Sources Shelters Inc compensate executives?
Executive compensation cannot be assessed from the provided data as specific figures for individual salaries are not included in the summary financial data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent decline in revenue over the past few years, what strategies are in place to diversify funding sources or increase fundraising efforts to ensure long-term sustainability?
While the provided data shows a clear trend of decreasing revenue, the specific strategies for addressing this decline are not detailed in the financial summaries. A deeper dive into fundraising reports or strategic plans would be necessary to answer this.
How does the organization manage to maintain a stable asset base despite a significant reduction in annual revenue, and what is the composition of these assets?
The stability of assets despite declining revenue suggests either a strong initial asset base, effective investment strategies, or a reduction in liabilities. The provided data does not break down asset composition (e.g., cash, property, investments), which would offer more insight.
Filing History
IRS 990 filing history for Several Sources Shelters Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Several Sources Shelters Inc's revenue has declined by 39.6%, moving from $3.5M to $2.1M. Total assets increased by 142% over the same period, from $4.1M to $9.9M. Total functional expenses rose by 8.6%, from $2.1M to $2.2M. In its most recent filing year (2023), Several Sources Shelters Inc reported a deficit of $130K, with expenses exceeding revenue. The organization holds $195K in liabilities against $9.9M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $9.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.2M | $9.9M | $195K | — | — |
| 2022 | $2.6M | $2.1M | $9.4M | $181K | — | — |
| 2021 | $3.4M | $2.0M | $10.0M | $238K | — | View 990 |
| 2020 | $2.7M | $2.1M | $8.7M | $211K | — | View 990 |
| 2019 | $2.2M | $2.0M | $7.7M | $148K | — | View 990 |
| 2018 | $2.0M | $2.1M | $7.4M | $199K | — | View 990 |
| 2017 | $2.4M | $2.2M | $7.6M | $261K | — | View 990 |
| 2016 | $2.4M | $2.4M | $7.5M | $342K | — | View 990 |
| 2015 | $2.6M | $2.6M | $7.5M | $397K | — | View 990 |
| 2014 | $2.7M | $2.5M | $7.6M | $465K | — | View 990 |
| 2013 | $2.8M | $2.3M | $7.5M | $488K | — | View 990 |
| 2012 | $3.0M | $2.0M | $7.1M | $479K | — | — |
| 2011 | $3.9M | $1.8M | $6.1M | $539K | — | View 990 |
| 2010 | $3.5M | $2.1M | $4.1M | $571K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.2M, and assets of $9.9M (revenue -17.8% year-over-year).
- 2022: Revenue of $2.6M, expenses of $2.1M, and assets of $9.4M (revenue -25.1% year-over-year).
- 2021: Revenue of $3.4M, expenses of $2.0M, and assets of $10.0M (revenue +25.1% year-over-year).
- 2020: Revenue of $2.7M, expenses of $2.1M, and assets of $8.7M (revenue +25.0% year-over-year).
- 2019: Revenue of $2.2M, expenses of $2.0M, and assets of $7.7M (revenue +12.2% year-over-year).
- 2018: Revenue of $2.0M, expenses of $2.1M, and assets of $7.4M (revenue -17.0% year-over-year).
- 2017: Revenue of $2.4M, expenses of $2.2M, and assets of $7.6M (revenue -2.4% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.4M, and assets of $7.5M (revenue -6.6% year-over-year).
- 2015: Revenue of $2.6M, expenses of $2.6M, and assets of $7.5M (revenue -3.5% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.5M, and assets of $7.6M (revenue -2.9% year-over-year).
- 2013: Revenue of $2.8M, expenses of $2.3M, and assets of $7.5M (revenue -8.6% year-over-year).
- 2012: Revenue of $3.0M, expenses of $2.0M, and assets of $7.1M (revenue -22.3% year-over-year).
- 2011: Revenue of $3.9M, expenses of $1.8M, and assets of $6.1M (revenue +11.1% year-over-year).
- 2010: Revenue of $3.5M, expenses of $2.1M, and assets of $4.1M.
Data Sources and Methodology
This transparency report for Several Sources Shelters Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.