Drew McLachlan Memorial Fund

Analysis

Drew McLachlan Memorial Fund is a registered charity in United States, based in Somerville, NJ. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Drew McLachlan Memorial Fund reported income of $55k and spending of $5,038, leaving 91% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $38k to $55k (+47%), an average of +46% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Drew McLachlan Memorial Fund sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 29th percentile within NJ. Charities of a similar size with the same main cause include Ak Payee Services Inc ($55k), Love Lift Ministries ($55k) and Arrow Adoptions ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 20% of the total. At year end it held assets of $144k against liabilities of $0, net assets of $144k.