Black Farmer Fund Inc

Analysis

Black Farmer Fund Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2020, 6 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 December 2023, Black Farmer Fund Inc reported income of $5.8m and spending of $2.3m, leaving 60% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.4m to $5.8m (+325%), an average of +62% a year. The sharpest change came in the year to December 2021, when income rose by 106%. Over the whole period it spent 35% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Black Farmer Fund Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Develop Detroit Inc ($5.8m), Connstep Inc ($5.8m) and Common Ground Alliance ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $268k (11% of expenses). Other salaries and wages came to $827k. At year end it held assets of $18.7m against liabilities of $8.5m, net assets of $10.2m. It reported 11 employees.