Future of Africa Incorporated

Analysis

Future of Africa Incorporated is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Future of Africa Incorporated reported income of $158k and spending of $160k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $161k to $158k (-1.9%), an average of -1.9% a year. Over the whole period it spent 77% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Future of Africa Incorporated sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 54th percentile within SC. Charities of a similar size with the same main cause include Research-Aid Networks ($158k), Carbondale Community High School District 165 Education Foundation ($158k) and Laurens County Chamber of Commerce Foundation Inc ($158k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $113k against liabilities of $0, net assets of $113k.