Abundant Life Community Development Corporation Inc

Analysis

Abundant Life Community Development Corporation Inc is a registered charity in United States, based in New Castle, DE. It received its IRS tax-exemption ruling in December 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Abundant Life Community Development Corporation Inc reported income of $960k and spending of $853k, spending 89% of its income. Across the 3 years on record, from December 2016 to December 2023, income grew from $5,000 to $960k (+19108%), an average of +1286% a year. The sharpest change came in the year to December 2022, when income rose by 12451%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Abundant Life Community Development Corporation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 74th percentile within DE. Charities of a similar size with the same main cause include Louisiana Assistive Technology Access Network ($960k), Rosewood Support Services Inc ($960k) and Philos Hospitality Inc ($960k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $86k (10% of expenses). At year end it held assets of $186k against liabilities of $252k, net assets of -$66k. It reported 5 employees.