Association of Black Foundation Executives Inc

Analysis

Association of Black Foundation Executives Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1973, 53 years ago. 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, Association of Black Foundation Executives Inc reported income of $7.6m and spending of $7.2m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $7.6m (+343%), an average of +45% a year. The sharpest change came in the year to December 2020, when income rose by 434%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Association of Black Foundation Executives Inc 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 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Child Study Center of New York ($7.6m), Young Mens Christian Association of the Sewickley Valley ($7.6m) and Northeastern Association of the Blind at Albany Inc ($7.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $1.3m (19% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $20.0m against liabilities of $1.0m, net assets of $19.0m. It reported 37 employees.