Cents Ability Inc

Analysis

Cents Ability Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 2025. 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 2020, Cents Ability Inc reported income of $392k and spending of $378k, spending 97% of its income. Across the 2 years on record, from December 2019 to December 2020, income grew from $331k to $392k (+18%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cents Ability Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Granary Foundation ($392k), Joint Economic Development Initiative of Southern Ohio ($392k) and Langlade County Economic Development Corporation ($392k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $220k. It paid $711 in professional fundraising fees. At year end it held assets of $87k against liabilities of $5,490, net assets of $81k.