Michigan Street African American Heritage Corridor Commission Inc

Analysis

Michigan Street African American Heritage Corridor Commission Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in June 2010, 16 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 December 2023, Michigan Street African American Heritage Corridor Commission Inc reported income of $850k and spending of $589k, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $48k to $850k (+1670%), an average of +105% a year. The sharpest change came in the year to December 2022, when income rose by 777%. Over the whole period it spent 38% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Michigan Street African American Heritage Corridor Commission Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include LA Esperanza Inc ($850k), Microbusiness Advancement Center of Southern Arizona ($851k) and Filling the Gap Inc ($850k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 0.1% of the total. Other salaries and wages came to $163k. At year end it held assets of $2.4m against liabilities of $25k, net assets of $2.4m. It reported 3 employees.