Allapattah Business Development Authority Inc

Analysis

Allapattah Business Development Authority Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 1989, 37 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 September 2023, Allapattah Business Development Authority Inc reported income of $61k and spending of $125k, spending 206% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $416k to $61k (-85%), an average of -38% a year. The sharpest change came in the year to September 2023, when income dropped by 78%. Over the whole period it spent 113% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Allapattah Business Development Authority Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 27th percentile within FL. Charities of a similar size with the same main cause include Great Bend Foundation Inc ($61k), Ebenezer Kingdom Builders Inc ($61k) and Cleveland Neighborhood Association - Cna ($61k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 80% of the total. Compensation of current officers, directors and key employees was $46k (37% of expenses). Other salaries and wages came to $32k. At year end it held assets of $531k against liabilities of $572k, net assets of -$42k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.