Associated Black Charities Inc

Analysis

Associated Black Charities Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in March 1986, 40 years ago. 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, Associated Black Charities Inc reported income of $1.6m and spending of $1.9m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $22.0m to $1.6m (-93%), an average of -48% a year. The sharpest change came in the year to December 2022, when income dropped by 68%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Associated Black Charities Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MD. Charities of a similar size with the same main cause include Marietta Schools Foundation Inc ($1.6m), Global Montessori Academy ($1.6m) and Tel Foundation ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $225k (12% of expenses). Other salaries and wages came to $514k. At year end it held assets of $2.6m against liabilities of $785k, net assets of $1.8m. It reported 17 employees.