Adelante Development Center Inc

Analysis

Adelante Development Center Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in August 1978, 48 years ago. Its declared purposes cover employment, 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 June 2023, Adelante Development Center Inc reported income of $40.0m and spending of $36.2m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.5m to $40.0m (+51%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Adelante Development Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NM. Charities of a similar size with the same main cause include Goodwill Industries of Southeastern Louisiana Inc ($39.7m), Thames Valley Council for Community Action Inc ($40.5m) and Rural Community Assistance ($39.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $1.0m (2.8% of expenses). Other salaries and wages came to $15.8m. At year end it held assets of $31.5m against liabilities of $11.7m, net assets of $19.7m. It reported 694 employees.