Mercy Drops Inc

Analysis

Mercy Drops Inc is a registered charity in United States, based in Portsmouth, VA. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Mercy Drops Inc reported income of $969k and spending of $1.0m, spending 106% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $264k to $969k (+267%), an average of +54% a year. The sharpest change came in the year to December 2022, when income rose by 330%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Mercy Drops Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within VA. Charities of a similar size with the same main cause include United Way of Matanuska-Susitna Borough ($969k), Nelson Family Life Foundation Inc ($970k) and University of Northern Iowa Prioperties Corporation ($969k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $35k (3.4% of expenses). Other salaries and wages came to $149k. At year end it held assets of $304k against liabilities of $4,260, net assets of $300k. It reported 14 employees.

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.