Asbury Inc

Analysis

Asbury Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in September 1961, 65 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 Inc reported income of $28.7m and spending of $44.3m, spending 154% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $33.0m to $28.7m (-13%), an average of -3.4% a year. The sharpest change came in the year to December 2022, when income dropped by 25%. Over the whole period it spent 128% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Asbury 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 MD. Charities of a similar size with the same main cause include Catholic Charities Inc Archdiocese of Hartford ($28.7m), Heath Village Inc ($28.7m) and Preble Street ($28.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 97% of the total. Other salaries and wages came to $13.1m. At year end it held assets of $17.7m against liabilities of $56.0m, net assets of -$38.4m.

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.