Africatown Redevelopment Corporation

Analysis

Africatown Redevelopment Corporation is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in August 2023, 3 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 (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, Africatown Redevelopment Corporation reported income of $577k and spending of $178k, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $268k to $577k (+115%), an average of +115% a year. The sharpest change came in the year to December 2023, when income rose by 115%. Over the whole period it spent 24% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Africatown Redevelopment Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within AL. Charities of a similar size with the same main cause include Center for Native Futures ($577k), Williamston Theatre ($577k) and National Society of the Daughters of the American Revolution ($577k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $94k. At year end it held assets of $657k against liabilities of $2,669, net assets of $654k. It reported 1 employees.