Ability Building Center Inc

Analysis

Ability Building Center Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in June 1959, 67 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Ability Building Center Inc reported income of $13.5m and spending of $12.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $13.0m to $13.5m (+3.4%), an average of +0.8% a year. The sharpest change came in the year to December 2020, when income dropped by 24%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ability Building Center 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 96th percentile within MN. Charities of a similar size with the same main cause include Nueva Esperanza ($13.5m), Virginia Regional Transit ($13.5m) and Wisconsin Operating Engineers Skill Improvement and Apprenticeship Fun ($13.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $178k (1.4% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $8.3m against liabilities of $1.6m, net assets of $6.7m. It reported 611 employees.