American Bankers Association Community Engagement Foundation

Analysis

American Bankers Association Community Engagement Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 2004, 22 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, American Bankers Association Community Engagement Foundation reported income of $1.0m and spending of $1.3m, spending 128% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.3m to $1.0m (-20%), an average of -5.3% a year. The sharpest change came in the year to August 2023, when income rose by 98%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, American Bankers Association Community Engagement Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 56th percentile within DC. Charities of a similar size with the same main cause include Missouri Works Initiative ($1.0m), Oklahoma Native Assets Coalition Inc ($1.0m) and Growth Partners Arizona ($1.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 52% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $23k (1.7% of expenses). Other salaries and wages came to $291k. At year end it held assets of $8.4m against liabilities of $302k, net assets of $8.1m.