Altcap

Analysis

Altcap is a registered charity in United States, based in Kansas City, MO. It received its IRS tax-exemption ruling in January 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Altcap reported income of $6.8m and spending of $5.2m, leaving 22% of income unspent that year. Across the 6 years on record, from June 2019 to December 2022, income grew from $2.9m to $6.8m (+135%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 109%. Over the whole period it spent 53% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Altcap 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 93rd percentile, and in the 92nd percentile within MO. Charities of a similar size with the same main cause include The Capital Good Fund ($6.8m), Reinvent Stockton Foundation ($6.8m) and Bladens Bloomin Agri-Industrial Inc ($6.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 70% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $359k (6.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $30.3m against liabilities of $12.8m, net assets of $17.4m. It reported 31 employees.