City of Albuquerque Foundation

Analysis

City of Albuquerque Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in February 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, City of Albuquerque Foundation reported income of $2.3m and spending of $2.5m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $238k to $2.3m (+860%), an average of +76% a year. The sharpest change came in the year to December 2023, when income rose by 417%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, City of Albuquerque Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NM. Charities of a similar size with the same main cause include Cleveland Electrical Joint Apprenticeship and Training Trust ($2.3m), Downtown Dayton Partnership Corp ($2.3m) and Nonprofit Association of Oregon ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $683k against liabilities of $0, net assets of $683k.