Able Solutions Inc

Analysis

Able Solutions Inc is a registered charity in United States, based in Rockingham, VA. It received its IRS tax-exemption ruling in January 2014, 12 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Able Solutions Inc reported income of $5.7m and spending of $6.2m, spending 109% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.7m to $5.7m (+21%), an average of +4.9% a year. The sharpest change came in the year to June 2024, when income rose by 32%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Able Solutions Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Nysha Inc ($5.7m), Native Movement ($5.7m) and Northwest Side Community Development Corporation ($5.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $1.1m against liabilities of $1.7m, net assets of -$572k. It reported 257 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.