Detroit Resident Empowerment & Asset Management Services Inc

Analysis

Detroit Resident Empowerment & Asset Management Services Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in October 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Detroit Resident Empowerment & Asset Management Services Inc reported income of $98k and spending of $54k, leaving 45% of income unspent that year. Over the whole period it spent 55% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Detroit Resident Empowerment & Asset Management Services Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 36th percentile within MI. Charities of a similar size with the same main cause include Rainbows United Charitable Foundation ($98k), Evoke Life Inc ($98k) and Pantry for Adair County Inc ($98k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $76k against liabilities of $24k, net assets of $52k.