Advo Companies Inc

Analysis

Advo Companies Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in June 1995, 31 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, Advo Companies Inc reported income of $9.5m and spending of $10.3m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.2m to $9.5m (+15%), an average of +3.7% a year. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Advo Companies Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Lee Foundation for Civic Leadership Inc ($9.5m), Mrcharity Inc ($9.5m) and Bootheel Area Independent Living Services Inc ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $179k (1.7% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $1.2m against liabilities of $518k, net assets of $676k. It reported 335 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.