Adapt Incorporated

Analysis

Adapt Incorporated is a registered charity in United States, based in Coldwater, MI. It received its IRS tax-exemption ruling in June 1998, 28 years ago. 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 September 2023, Adapt Incorporated reported income of $3.3m and spending of $4.1m, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $4.3m to $3.3m (-24%), an average of -6.5% a year. The sharpest change came in the year to September 2023, when income dropped by 23%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adapt Incorporated sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MI. Charities of a similar size with the same main cause include Assisi Homes - Constitution House Inc ($3.3m), Help Hotline Crisis Center Inc ($3.3m) and Bill Rice Ranch Inc ($3.3m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $2.1m against liabilities of $0, net assets of $2.1m.