African American Credit Union Coalition

Analysis

African American Credit Union Coalition is a registered charity in United States, based in Snellville, GA. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 American Credit Union Coalition reported income of $2.5m and spending of $2.6m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $538k to $2.5m (+360%), an average of +46% a year. The sharpest change came in the year to December 2020, when income rose by 92%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, African American Credit Union Coalition sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within GA. Charities of a similar size with the same main cause include Forest Grove Foundation Inc ($2.5m), Career Wardrobe ($2.5m) and Harvest Community Development Corporation ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.8% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $288k (11% of expenses). Other salaries and wages came to $374k. At year end it held assets of $453k against liabilities of $235k, net assets of $217k. It reported 8 employees.