African Community Economic Development of New England

Analysis

African Community Economic Development of New England is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 2003, 23 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 Community Economic Development of New England reported income of $5.8m and spending of $4.7m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $387k to $5.8m (+1410%), an average of +97% a year. The sharpest change came in the year to December 2023, when income rose by 184%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, African Community Economic Development of New England sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Young Mens Christian Association of Athens Georgia ($5.8m), Hospice of the Golden Isles Inc ($5.8m) and Young Horizons ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $172k (3.6% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $1.7m against liabilities of $529k, net assets of $1.2m. It reported 8 employees.