Damar Services Inc

Analysis

Damar Services Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 1967, 59 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 2023, Damar Services Inc reported income of $81.1m and spending of $79.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $59.0m to $81.1m (+37%), an average of +8.3% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Damar Services Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Trinity Services Inc ($81.1m), Feeding San Diego ($81.2m) and Chinese American Planning Council Inc ($81.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.5% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.6m (2.1% of expenses). Other salaries and wages came to $45.1m. At year end it held assets of $62.9m against liabilities of $12.1m, net assets of $50.8m. It reported 1,583 employees.