Avance Inc

Analysis

Avance Inc is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in May 1974, 52 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 June 2023, Avance Inc reported income of $26.3m and spending of $17.5m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $26.3m (+951%), an average of +80% a year. The sharpest change came in the year to June 2021, when income rose by 380%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Avance Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Los Angeles Cleantech Incubator ($26.3m), Opportunity Enterprises Inc ($26.6m) and Center for Community Change ($26.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $525k (3.0% of expenses). Other salaries and wages came to $10.1m. At year end it held assets of $12.1m against liabilities of $1.8m, net assets of $10.3m. It reported 284 employees.