Damascus Inc

Analysis

Damascus Inc is a registered charity in United States, based in Centerburg, OH. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 August 2023, Damascus Inc reported income of $9.6m and spending of $9.3m, spending 97% of its income. Across the 5 years on record, from September 2019 to August 2023, income grew from $5.9m to $9.6m (+64%), an average of +13% a year. The sharpest change came in the year to September 2021, when income rose by 67%. Over the whole period it spent 79% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Damascus Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include Girl Scouts Western Pennsylvania Inc ($9.6m), Colorado Youth for a Change ($9.7m) and Boys and Girls Club of the Muskegon Lakeshore ($9.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 43% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $274k (2.9% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $26.4m against liabilities of $6.8m, net assets of $19.6m. It reported 271 employees.