Harlem Business Alliance Inc

Analysis

Harlem Business Alliance Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1992, 34 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Harlem Business Alliance Inc reported income of $635k and spending of $832k, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $508k to $635k (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2022, when income rose by 44%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Harlem Business Alliance Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Knox Street Improvement District Corporation ($635k), Federal Valley Resource Center ($635k) and 4th-Dimension Leaders Inc ($634k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $103k (12% of expenses). Other salaries and wages came to $375k. At year end it held assets of $566k against liabilities of $302k, net assets of $264k. It reported 10 employees.