Afrithrive Inc

Analysis

Afrithrive Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Afrithrive Inc reported income of $603k and spending of $648k, spending 108% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $55k to $603k (+1000%), an average of +122% a year. The sharpest change came in the year to December 2021, when income rose by 1226%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Afrithrive Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Xleratehealth Non-Profit Inc ($602k), Spectrum Industries ($603k) and Greater Ny Foundation ($602k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $158k. At year end it held assets of $116k against liabilities of $0, net assets of $116k. It reported 5 employees.