Truth Pharm Inc

Analysis

Truth Pharm Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Truth Pharm Inc reported income of $399k and spending of $449k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $278k to $399k (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2023, when income rose by 72%. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Truth Pharm Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Ardsley-Secor Volunteer Ambulance Corps Inc ($399k), Dragon Master Initiative Inc ($399k) and Herman Knapp Testamonial Fund ($399k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $67k (15% of expenses). Other salaries and wages came to $124k. At year end it held assets of $214k against liabilities of $15k, net assets of $198k. It reported 7 employees.