Maafa Redemption Project

Analysis

Maafa Redemption Project is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 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, Maafa Redemption Project reported income of $1.5m and spending of $1.2m, leaving 20% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $265k to $1.5m (+470%), an average of +139% a year. The sharpest change came in the year to December 2022, when income rose by 637%. Over the whole period it spent 69% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Maafa Redemption Project sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Canterbury Enterprises Inc ($1.5m), Net Fort Worth Inc ($1.5m) and Nonprofit Association of the Midlands ($1.5m).

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 $102k (8.5% of expenses). Other salaries and wages came to $518k. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m.