Multi-Ethnic Business Association

Analysis

Multi-Ethnic Business Association is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in August 2022, 4 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, Multi-Ethnic Business Association reported income of $2.4m and spending of $2.2m, spending 94% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $234k to $2.4m (+908%), an average of +218% a year. The sharpest change came in the year to December 2023, when income rose by 659%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Multi-Ethnic Business Association 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 WA. Charities of a similar size with the same main cause include Northeast Indiana Innovation Center ($2.4m), National Association of Development Organizations Research Foundation ($2.4m) and Transcend STEM Education ($2.4m).

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 $188k (8.5% of expenses). Other salaries and wages came to $116k. At year end it held assets of $305k against liabilities of $22k, net assets of $283k. It reported 6 employees.