Drift Magazine Foundation Inc

Analysis

Drift Magazine Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2020, 6 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, Drift Magazine Foundation Inc reported income of $607k and spending of $580k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $472k to $607k (+29%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Drift Magazine Foundation Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Peace by Piece NJ Inc ($607k), Fundacion Rimas Inc ($607k) and Ardellas House Inc ($607k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $85k (15% of expenses). Other salaries and wages came to $103k. At year end it held assets of $255k against liabilities of $0, net assets of $255k. It reported 5 employees.