Silversource Inc
- Assets
- $15.1m
- Revenue
- $1.4m
- Investments
- $13.6m
- Employees
- 0
- Location
- Stamford, CT
- Founding
- 02/1935
- Data as of
- 02/2024
- EIN
- 06-0646916
Organization Overview
Silversource Inc is located in Stamford, CT. The organization was established in 1935. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Silversource Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 02/2024, Silversource Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $1.8m during the year ending 02/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HOUSING STABILITY SUPPORT FOR EVICTION PROTECTION; HOUSING FOR HOMELESS SENIORS AND SAFETY EQUIPMENT.
PROVIDED FINANCIAL ASSISTANCE FOR BASIC NEEDS FOR FOOD AND ESSENTIAL MEDICAL CARE.
PROVIDED MEDICAL TRANSPORTATION AND FINANCIAL SUPPORT FOR SENIOR TRANSPORTATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Bordelon Chief Executive Officer | 40 | $152,112 | |
Robert Goldstein CPA President | 2 | $0 | |
Peggy Kalter Vice President | 2 | $0 | |
Len Schwartz Vice President | 2 | $0 | |
Tom Van Riper Vice President | 2 | $0 | |
Joseph Armah Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $519,265 |
| Interest on Savings | $0 |
| Dividends & Interest | $358,276 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $347,150 |
| Capital Gain Net Income | $347,150 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $186,064 |
| Total Revenue | $1,410,755 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $163,742 |
| Other employee salaries and wages | $645,492 |
| Pension plans, employee benefits | $130,162 |
| Interest | $0 |
| Taxes | $9,666 |
| Depreciation | $22,413 |
| Occupancy | $168,735 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $598,024 |
| Total operating and administrative expenses | $1,842,771 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,842,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,257 |
| Savings and temporary cash investments | $335,051 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $8,345 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,633 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,197,426 |
| Net Land, buildings, and equipment | $103,490 |
| Other assets | $917,301 |
| Total assets | $15,113,944 |
| Accounts payable and accrued expenses | $144,313 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $953,220 |
| Total liabilities | $1,097,533 |
Grants Awarded
Over the last fiscal year, Silversource Inc has awarded $357,310 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ASSISTANCE TO 270 INDIVIDUALS LIVIN PURPOSE: LIVING ASSISTANCE | $190,508 |
ASSISTANCE TO 170 INDIVIDUALS MEDIC PURPOSE: MEDICAL ASSISTANCE | $110,505 |
ASSISTANCE TO 80 INDIVIDUALS HOME C PURPOSE: HOME CARE | $49,475 |
ASSISTANCE TO 55 INDIVIDUALS TRANSP PURPOSE: TRANSPORTATION ASSISTANCE | $6,822 |