Building African American Minds Inc

Analysis

Building African American Minds Inc is a registered charity in United States, based in Easton, MD. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Building African American Minds Inc reported income of $2.2m and spending of $1.2m, leaving 44% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $2.2m (+103%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 130%. Over the whole period it spent 32% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Building African American Minds Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within MD. Charities of a similar size with the same main cause include Face to Face Academy ($2.2m), Elevate Indianapolis Inc ($2.2m) and Kansas City Girls Preparatory Academy Foundation ($2.2m).

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 $150k (12% of expenses). Other salaries and wages came to $639k. At year end it held assets of $8.8m against liabilities of $0, net assets of $8.8m. It reported 38 employees.