Adec Inc

Analysis

Adec Inc is a registered charity in United States, based in Bristol, IN. It received its IRS tax-exemption ruling in June 1953, 73 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 June 2024, Adec Inc reported income of $23.1m and spending of $22.5m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $19.6m to $23.1m (+18%), an average of +4.2% a year. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Adec Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within IN. Charities of a similar size with the same main cause include Sunrise 2000 Inc ($23.1m), Ave Maria Home ($23.1m) and Center for Human Services ($23.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.0% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $492k (2.2% of expenses). Other salaries and wages came to $14.1m. At year end it held assets of $41.8m against liabilities of $2.1m, net assets of $39.7m. It reported 554 employees.