Quincy Asian Resources Inc

Analysis

Quincy Asian Resources Inc is a registered charity in United States, based in Quincy, MA. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Quincy Asian Resources Inc reported income of $2.2m and spending of $2.9m, spending 130% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $2.2m (+65%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 326%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Quincy Asian Resources Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include WCDC Inc ($2.2m), Midwest Shelter for Homeless Veterans Inc ($2.2m) and Self-Governance Communication and Educational Tribal Consortium ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $400k (14% of expenses). Other salaries and wages came to $935k. It paid $41k in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $749k, net assets of $1.6m. It reported 32 employees.