Austin African American Business Network NFP

Analysis

Austin African American Business Network NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Austin African American Business Network NFP reported income of $356k and spending of $318k, spending 89% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $88k to $356k (+303%), an average of +101% a year. The sharpest change came in the year to December 2022, when income rose by 216%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Austin African American Business Network NFP sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include Nacogdoches-Nacogdoches County Economic Development Corporation ($356k), Ozark Sheltered Industries Incorporated ($357k) and West Yellowstone Foundation ($356k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $56k (18% of expenses). Other salaries and wages came to $55k. At year end it held assets of $100k against liabilities of $0, net assets of $100k. It reported 3 employees.