American Debt Resources Inc

Analysis

American Debt Resources Inc is a registered charity in United States, based in East Northport, NY. It received its IRS tax-exemption ruling in October 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, American Debt Resources Inc reported income of $576k and spending of $494k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $491k to $576k (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2023, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, American Debt Resources Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Kivel Campus of Care ($576k), Freedom Lake Inc ($576k) and Brightmoor Connection ($576k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $125k (25% of expenses). Other salaries and wages came to $186k. At year end it held assets of $340k against liabilities of $13k, net assets of $328k. It reported 4 employees.