Abeka Fund Inc

Analysis

Abeka Fund Inc is a registered charity in United States, based in Pensacola, FL. It received its IRS tax-exemption ruling in May 1988, 38 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Abeka Fund Inc reported income of $389k and spending of $990k, spending 255% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $499k to $389k (-22%), an average of -6.1% a year. The sharpest change came in the year to May 2022, when income dropped by 38%. Over the whole period it spent 157% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Abeka Fund 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 69th percentile within FL. Charities of a similar size with the same main cause include Honor Flight Central Coast California Inc ($389k), Trumbull United Soccer Club Inc ($389k) and Cornerstone Lodge Inc ($389k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 60% and program service revenue 50% of the total. At year end it held assets of $6.6m against liabilities of $218, net assets of $6.6m.

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.