National Association of Black Accountants Inc

Analysis

National Association of Black Accountants Inc is a registered charity in United States, based in Greenbelt, MD. It received its IRS tax-exemption ruling in November 1973, 53 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 December 2023, National Association of Black Accountants Inc reported income of $15.2m and spending of $14.8m, spending 98% of its income. Across the 5 years on record, from June 2020 to December 2023, income grew from $1.1m to $15.2m (+1278%), an average of +93% a year. The sharpest change came in the year to December 2022, when income rose by 792%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, National Association of Black Accountants Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Auxiliary Campus Enterprises and Services State University College ($15.1m), Disabled Citizens Alliance for Indep Inc Fiscal Agent ($15.2m) and Broadway Grand Rapids ($15.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $389k (2.6% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $12.5m against liabilities of $2.0m, net assets of $10.4m. It reported 32 employees.