Asian American Business Development Center Inc

Analysis

Asian American Business Development Center Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1995, 31 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Asian American Business Development Center Inc reported income of $1.6m and spending of $1.3m, leaving 21% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $656k to $1.6m (+142%), an average of +25% a year. The sharpest change came in the year to September 2021, when income rose by 211%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Asian American Business Development Center Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Building Bridges to Careers Inc ($1.6m), Junior League of Birmingham Inc ($1.6m) and Alchemia ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $108k (8.6% of expenses). Other salaries and wages came to $158k. At year end it held assets of $1.3m against liabilities of $172k, net assets of $1.1m. It reported 5 employees.