Alma Financial Assistance Corp

Analysis

Alma Financial Assistance Corp is a registered charity in United States, based in Deerfield BCH, FL. It received its IRS tax-exemption ruling in October 2002, 24 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, Alma Financial Assistance Corp reported income of $396k and spending of $382k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.4m to $396k (-72%), an average of -27% a year. The sharpest change came in the year to June 2023, when income dropped by 48%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Alma Financial Assistance Corp sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 69th percentile within FL. Charities of a similar size with the same main cause include Immigo ($396k), Hilltop Child Care Center Inc ($396k) and Chin Community of Indiana ($396k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $76k (20% of expenses). Other salaries and wages came to $144k. At year end it held assets of $43k against liabilities of $15k, net assets of $29k. It reported 12 employees.