Asbury Atlantic Inc

Analysis

Asbury Atlantic Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in September 1996, 30 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 December 2023, Asbury Atlantic Inc reported income of $198.4m and spending of $183.8m, spending 93% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $174.4m to $198.4m (+14%), an average of +4.4% a year. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Asbury Atlantic Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Young Mens Christian Association of Greater New York ($196.1m), Chicanos Por LA Causa Inc ($200.1m) and Hospice of the Valley ($195.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.7% and program service revenue 90% of the total. Other salaries and wages came to $60.2m. At year end it held assets of $547.5m against liabilities of $599.1m, net assets of -$51.7m.