African American Chamber of Commerce

Analysis

African American Chamber of Commerce is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in January 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. 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, African American Chamber of Commerce reported income of $727k and spending of $798k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $609k to $727k (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2020, when income rose by 162%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, African American Chamber of Commerce sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within WI. Charities of a similar size with the same main cause include Rockland 21st Century Collaborative for Children and Youth Inc ($726k), American Diversity Group Inc ($727k) and American Friends of Stowe Inc ($726k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $141k (18% of expenses). Other salaries and wages came to $185k. At year end it held assets of $2.7m against liabilities of $1.9m, net assets of $844k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.