Dae Inc

Analysis

Dae Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in January 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Dae Inc reported income of $1.3m and spending of $2.3m, spending 182% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income grew from $799k to $1.3m (+57%), an average of +12% a year. The sharpest change came in the year to December 2019, when income rose by 68%. Over the whole period it spent 149% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Dae Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Recovery Community Development Inc ($1.3m), Casella Plaza Housing Development Fund Corporation ($1.3m) and Christian County Enterprises Inc ($1.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 8.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $154k (6.7% of expenses). Other salaries and wages came to $559k. At year end it held assets of $1.1m against liabilities of $2.1m, net assets of -$944k.

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.