Avance Inc

Analysis

Avance Inc is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in May 1974, 52 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 June 2023, Avance Inc reported income of $65.6m and spending of $64.0m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $52.5m to $65.6m (+25%), an average of +5.7% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Avance Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Alphapointe ($65.1m), Job Options Inc ($66.0m) and First Step Staffing ($63.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.2m (1.9% of expenses). Other salaries and wages came to $30.3m. At year end it held assets of $19.4m against liabilities of $10.1m, net assets of $9.3m.