Abram Demaree Homestead

Analysis

Abram Demaree Homestead is a registered charity in United States, based in Hoboken, NJ. It received its IRS tax-exemption ruling in October 1982, 44 years ago. 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 September 2023, Abram Demaree Homestead reported income of $507k and spending of $557k, spending 110% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $781k to $507k (-35%), an average of -10% a year. The sharpest change came in the year to September 2021, when income dropped by 53%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Abram Demaree Homestead sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Kansas Farm Bureau Foundation ($507k), Lexington School for the Deaf ($507k) and Gay Pride Celebration Committee of San Jose ($507k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 70% of the total. Other salaries and wages came to $254k. At year end it held assets of $8.1m against liabilities of $22k, net assets of $8.1m. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.