Medical Debt Resolution Inc

Analysis

Medical Debt Resolution Inc is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in May 2016, 10 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 December 2023, Medical Debt Resolution Inc reported income of $28.3m and spending of $22.7m, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.1m to $28.3m (+181%), an average of +30% a year. The sharpest change came in the year to December 2020, when income rose by 557%. Over the whole period it spent 44% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Medical Debt Resolution Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Pleasant View Retirement Community ($28.3m), Meals on Wheels America ($28.3m) and Community Supports Inc ($28.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $1.1m (4.6% of expenses). Other salaries and wages came to $737k. It paid $1.1m in professional fundraising fees. At year end it held assets of $95.9m against liabilities of $1.9m, net assets of $94.0m. It reported 28 employees.