African Career Education & Resources

Analysis

African Career Education & Resources is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Career Education & Resources reported income of $1.5m and spending of $1.5m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $224k to $1.5m (+563%), an average of +60% a year. The sharpest change came in the year to December 2020, when income rose by 618%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, African Career Education & Resources sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MN. Charities of a similar size with the same main cause include Citizens of the World Charter Schools - Cincinnati ($1.5m), Mentor Inc ($1.5m) and Quogue Free Library Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $93k (6.3% of expenses). Other salaries and wages came to $618k. At year end it held assets of $2.0m against liabilities of $322k, net assets of $1.7m. It reported 17 employees.