Afromundo

Analysis

Afromundo is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in December 2005, 21 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Afromundo reported income of $129k and spending of $95k, leaving 26% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $98k to $129k (+31%), an average of +32% a year. The sharpest change came in the year to June 2024, when income rose by 31%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Afromundo sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 39th percentile within NM. Charities of a similar size with the same main cause include Percussia ($129k), Dyersburg Army Airbase Memorial Association ($129k) and Oberlin Choristers ($129k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $63k against liabilities of $0, net assets of $63k.