Several Sources Shelters Inc

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Several Sources Shelters Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Several Sources Shelters Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Several Sources Shelters Inc in one place.

Is Several Sources Shelters Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Where the Money Comes From and Where It Goes

Across stored filings, Several Sources Shelters Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Several Sources Shelters Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

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.

Organization Overview

Several Sources Shelters Inc is a mid-size nonprofit that has been operating for 43 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -3.8%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2023, Several Sources Shelters Inc reported a deficit of $130K with expenses exceeding revenue, holds 52.8 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).

Financial Trends

Over 14 years of filings (2010–2023), Several Sources Shelters Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.8%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

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.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $130K, with expenses exceeding revenue.
• Debt-to-asset ratio: 2.0%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Several Sources Shelters Inc:

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.