Association for Black Economic Power

Analysis

Association for Black Economic Power is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2018, 8 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 December 2023, Association for Black Economic Power reported income of $182k and spending of $488k, spending 268% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $985k to $182k (-82%), an average of -34% a year. The sharpest change came in the year to December 2022, when income rose by 87%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Association for Black Economic Power sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within MN. Charities of a similar size with the same main cause include South Carolina Radiation Quality Standards Association ($182k), International Foundation for Cultural Property Protection ($182k) and Allegheny Council to Improve Our Neighborhoods-Housing Incorporated ($182k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Other salaries and wages came to $193k. It paid $5,510 in professional fundraising fees. At year end it held assets of $522k against liabilities of $12k, net assets of $510k. It reported 3 employees.