Veterans Multi-Service Center Inc
- Assets
- $6.5m
- Revenue
- $18.2m
- Investments
- $0.0
- Employees
- 214
- Location
- Philadelphia, PA
- Founding
- 08/1995
- Data as of
- 06/2023
- EIN
- 23-2764079
Organization Overview
Veterans Multi-Service Center Inc is located in Philadelphia, PA. The organization was established in 1995. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Veterans Multi-Service Center Inc employed 214 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans Multi-Service Center 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 06/2023, Veterans Multi-Service Center Inc generated $18.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $17.8m during the year ending 06/2023. While expenses have increased by 7.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE CAUSE OF VETERANS BY PROVIDING SERVICES INNOVATIVE PROGRAMS OPPORTUNITIES AND ADVANCEMENT FOR VETERANS OF THE U.S. MILITARY AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR HOMELESS VETERANS PROGRAMS PROVIDE ASSISTANCE TO SECURE HOUSING AND RELATED SERVICES THROUGH A CONTINUUM OF CARE WITH TRANSITIONAL AND PERMANENT HOUSING.
OUR EMPLOYMENT AND TRAINING PROGRAMS HELP VETERANS TO RE-ENTER THE WORKFORCE BY ACQUIRING NECESSARY SKILLS TO COMPETE FOR DEMANDING POSITIONS WITH GOOD INCOME POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Ramsey President | Officer | 3 | $0 |
Jim Davie Vice-President | Officer | 2 | $0 |
Marie Nahikian Secretary | Officer | 2 | $0 |
Jonathan Saidel Treasurer | Officer | 2 | $0 |
Cherie Arabia Board Member | Trustee | 1 | $0 |
Donna Bailey Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Homeless Advocacy Project Legal Subcontractor | 6/29/23 | $560,575 |
Legal Aid Of Southeastern Pa Legal Subcontractor | 6/29/23 | $339,721 |
Cbj Delivery Service Llc Food Delivery | 6/29/23 | $236,397 |
700 Somerset Partners Lp Landlord | 6/29/23 | $174,036 |
Innovative Treatment Alternative Rental, Moving Assistance | 6/29/23 | $135,406 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,932,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $955,385 |
| Noncash contributions included in lines 1a–1f | $227,525 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,888,235 |
| Total Program Service Revenue | $27,291 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $190,029 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $308,206 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,243,407 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $443,289 |
| Compensation of current officers, directors, key employees. | $200,353 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,298,921 |
| Pension plan accruals and contributions | $170,776 |
| Other employee benefits | $789,285 |
| Payroll taxes | $501,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $305,064 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $606,151 |
| Travel | $140,207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,921 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,713 |
| Insurance | $137,941 |
| All other expenses | $84,914 |
| Total functional expenses | $17,841,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,479,531 |
| Savings and temporary cash investments | $251,148 |
| Pledges and grants receivable | $58,628 |
| Accounts receivable, net | $1,781,496 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $552,040 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $202,872 |
| Net Land, buildings, and equipment | $1,139,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,002,431 |
| Total assets | $6,467,327 |
| Accounts payable and accrued expenses | $647,706 |
| Grants payable | $0 |
| Deferred revenue | $298,120 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $669,865 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $965,638 |
| Total liabilities | $2,581,329 |
| Net assets without donor restrictions | $3,560,925 |
| Net assets with donor restrictions | $325,073 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,467,327 |