Derm Center

Analysis

Derm Center is a registered charity in United States, based in Troy, MI. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Derm Center reported income of $175k and spending of $189k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $453k to $175k (-61%), an average of -21% a year. The sharpest change came in the year to December 2021, when income dropped by 51%. Over the whole period it spent 127% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Derm Center sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within MI. Charities of a similar size with the same main cause include Friends of the Lebanese Franciscan Sisters of the Cross ($175k), Crosswalk Ministries USA Inc ($175k) and Valley Select ($175k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 62% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.

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.