African Soup Inc

Analysis

African Soup Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in July 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Soup Inc reported income of $843k and spending of $515k, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $281k to $843k (+200%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 156%. Over the whole period it spent 65% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, African Soup Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within GA. Charities of a similar size with the same main cause include North Side Partnership Project ($842k), Maple Unified Student Academy ($843k) and Little Brothers Friends of the Elderly - Boston Inc ($842k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $25k (4.8% of expenses). Other salaries and wages came to $13k. At year end it held assets of $967k against liabilities of $25k, net assets of $942k. It reported 2 employees.