Silversource Inc

Nonprofit profile at a glance

EIN
991895904
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024
Location
Stamford, CT, USA
Phone
2033246584
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Home Improvement and Repairs

Official website

Reported finances

Revenue
$2,493,338
Expenses
$2,496,313
Assets
$1,569,263
Liabilities
$840,156

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • ROBERT GOLDSTEIN CPA (PRESIDENT)
  • LEN SCHWARTZ (VICE PRESIDENT)
  • TOM VAN RIPER (VICE PRESIDENT)
  • KATHLEEN BORDELON (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • KATHLEEN BORDELON (CHIEF EXECUTIVE OFFICER): $161,004 total reported compensation
  • SAMIRA SCHMITZ (CHIEF OPERATING OFFICER): $136,668 total reported compensation
  • MARIANNE DELANEY (CHIEF DEVELOPMENT OFFICER): $134,749 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Silversource advances the dignity, independence and quality of life of older adults by providing supportive services to those in need and guidance to families, and by engaging in community partnerships and advocating for sound public policies.

What it reported doing in 2025

Food & nutrition: addresses food insecurity among low-income and home-bound seniors through direct food distribution and supplemental nutrition assistance. Activities include operation of a food pantry providing groceries and shelf-stable staples, distribution of fresh produce and perishable items in partnership with local food banks, provision of prepared meal programs, and assistance with enrollment in federal nutrition programs such as snap. Staff conduct nutritional screenings to identify households experiencing food hardship. This program helps alleviate hunger and improving nutritional health outcomes for vulnerable populations in the community.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 22
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.2%; rating input score 52
  • Program expense ratio: 52.1%; rating input score 52
  • Fundraising efficiency: $4.82 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.1%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 17.3%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 200% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 52.2% of revenue deployed · 52.1% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $161K · 20 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $196K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.