Aglaunch Initiative

Analysis

Aglaunch Initiative is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 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 (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, Aglaunch Initiative reported income of $2.4m and spending of $2.6m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $2.4m (+115%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 87%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Aglaunch Initiative sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Smart Local Union No 49 Joint Apprenticeship and Training Trust ($2.4m), Frazier Revitalization Inc ($2.4m) and Western Illinois Works Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $168k (6.4% of expenses). Other salaries and wages came to $854k. At year end it held assets of $2.1m against liabilities of $1.8m, net assets of $375k. It reported 11 employees.