Afro Charities Inc

Analysis

Afro Charities Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in December 1992, 34 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 June 2023, Afro Charities Inc reported income of $390k and spending of $446k, spending 114% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $2.5m to $390k (-84%), an average of -84% a year. The sharpest change came in the year to June 2023, when income dropped by 84%. Over the whole period it spent 25% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Afro Charities Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include South Dakota Agricultural and Rural Leadship Foundaiton ($390k), Billys Homeplace Inc ($390k) and Laurel Senior Center ($390k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $88k (20% of expenses). Other salaries and wages came to $92k. At year end it held assets of $3.8m against liabilities of $14k, net assets of $3.7m. It reported 3 employees.