African American Heritage Foundation

Analysis

African American Heritage Foundation is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in December 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Heritage Foundation reported income of $2.4m and spending of $613k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $444k to $2.4m (+434%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 197%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, African American Heritage Foundation sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within IA. Charities of a similar size with the same main cause include The International Ufo Museum & Research Center at Roswell New ($2.4m), Moonlight Cultural Foundation ($2.4m) and Global Cold Chain Foundation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $140k (23% of expenses). Other salaries and wages came to $80k. At year end it held assets of $6.4m against liabilities of $817k, net assets of $5.6m. It reported 8 employees.