Africas Brain Bank

Analysis

Africas Brain Bank is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in December 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2021, Africas Brain Bank reported income of $194k and spending of $176k, spending 91% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $135k to $194k (+43%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 81%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Africas Brain Bank sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include Gapaba Law Foundation Inc ($194k), United Way of the Coalfield Inc ($194k) and Yeshivat Maale Gilboa USA Inc ($194k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 90% and program service revenue 10% of the total. Other salaries and wages came to $68k. It paid $8,335 in professional fundraising fees. At year end it held assets of $212k against liabilities of $194k, net assets of $18k.