Alleghenies Broadband Incorporated

Analysis

Alleghenies Broadband Incorporated is a registered charity in United States, based in Altoona, PA. It received its IRS tax-exemption ruling in July 2021, 5 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, Alleghenies Broadband Incorporated reported income of $1.5m and spending of $1.4m, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $542k to $1.5m (+182%), an average of +68% a year. The sharpest change came in the year to December 2022, when income rose by 386%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alleghenies Broadband Incorporated sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within PA. Charities of a similar size with the same main cause include New Majority Capital Foundation Inc ($1.5m), Womens Enterprise Development Center Inc ($1.5m) and Richland Community Development Group Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Other salaries and wages came to $60k. At year end it held assets of $251k against liabilities of $83k, net assets of $168k.