Damar Foundation Inc

Analysis

Damar Foundation Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Damar Foundation Inc reported income of $4.5m and spending of $2.3m, leaving 49% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.7m to $4.5m (-41%), an average of -12% a year. The sharpest change came in the year to June 2020, when income dropped by 50%. Over the whole period it spent 48% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Damar Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IN. Charities of a similar size with the same main cause include Nourish Now Foundation Inc ($4.5m), The Achievable Foundation ($4.5m) and Latino Community Development Agency Inc ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $154k (6.8% of expenses). Other salaries and wages came to $287k. At year end it held assets of $59.6m against liabilities of $147k, net assets of $59.4m. It reported 6 employees.