African Center for Economic Transformation

Analysis

African Center for Economic Transformation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in February 2008, 18 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, African Center for Economic Transformation reported income of $6.3m and spending of $6.1m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.4m to $6.3m (+84%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 52%. Over the whole period it spent 99% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, African Center for Economic Transformation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 82nd percentile within DC. Charities of a similar size with the same main cause include Gleaning for the World Inc ($6.3m), Seeds of Peace Inc ($6.4m) and Nudge Foundation ($6.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.1m (19% of expenses). Other salaries and wages came to $100k. At year end it held assets of $5.0m against liabilities of $4.5m, net assets of $540k.