Afrikin Foundation Inc

Analysis

Afrikin Foundation Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in October 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Afrikin Foundation Inc reported income of $470k and spending of $779k, spending 166% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $183k to $470k (+156%), an average of +156% a year. The sharpest change came in the year to December 2023, when income rose by 156%. Over the whole period it spent 147% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Afrikin Foundation Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include WR Arts Inc ($470k), C-Net ($470k) and Philadelphia Sinfonia Association Inc ($469k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. It paid $155k in professional fundraising fees. At year end it held assets of $779k against liabilities of $779k, net assets of $0.