Debt Reduction Services Inc

Analysis

Debt Reduction Services Inc is a registered charity in United States, based in Boise, ID. It received its IRS tax-exemption ruling in June 1997, 29 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, Debt Reduction Services Inc reported income of $2.3m and spending of $2.8m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.9m to $2.3m (-40%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 26%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Debt Reduction Services Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within ID. Charities of a similar size with the same main cause include Pikes Peak Hospice Foundation ($2.3m), US Farming and Ranching Foundation ($2.3m) and Farmer Foodshare Inc ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $717k (26% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.1m against liabilities of $1.0m, net assets of $80k. It reported 36 employees.