Abyssinian Development Corporation
Abyssinian Development Corporation reported $31.9 million in revenue and $23.2 million in expenses for calendar year 2024. Of every $100 it spent, $88.54 went to program services, $10.98 to management and general costs and $0.48 to fundraising. Its largest source of revenue was investment income: 64.6% of the total. The highest compensation it reported for one person was $154,392 (COO/CFO). 1 person received more than $100,000 in reportable compensation. Revenue rose 221% between 2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $23MFor context, the median across 2,433 covered unclassified charities: $88.27 programs, $11.68 management, $0.05 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $32MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.5% | 86.7% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.0% | 11.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.5% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.7% | 29.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.5% | 3.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 33.6% | 58.9% |
| Highest reported compensation Part VII-A, columns D–F | $154,392 | $301,601 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.67% | 1.38% |
| People paid over $100,000 Part VII, line 2 | 1 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 10.2 | 6.8 |
| Independent voting board members Part VI 1a–1b | 10 of 10 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseReal estate properties that provide low to moderate income housing and tenant services for the harlem community of new york city. Our portfolio includes close to 600 units of affordable housing, the majority of which qualify for housing assistance payments through various federal and local agencies and about 19,000 square fee of commercial space that's leased to community small businesses. The organization's real estate holdings are principally structured as low income housing tax credit partnerships that are designed to generate dollar-for-dollar tax credits in exchange for private equity…
Our education plan brings a holistic approach to academic achievement through partnerships with traditional public schools in new york city' school district 5. Our objective is to ensure that students can learn, grow and excel to be prepared for college; families are engaged as partners; and faculty operate as a community of leaders, sharing best practices and community resources. Our direct services include college/career preparatory services, STEM classroom curriculum enhancements, after-school tutoring to support students performing just below grade-level proficiency, and co-sponsoring a…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here1 people received more than $100,000 in reportable compensation from Abyssinian Development Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $145K (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b10 · 10 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 524
Private foundation grants it received
1 private foundation reported grants to Abyssinian Development Corporation totaling $20 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Abyssinian Development Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Abyssinian Development Corporation, you can publish a response that is linked from this page.
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Of every $100 Abyssinian Development Corporation spent in 2024, $88.54 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Abyssinian Development Corporation's spending goes to programs?
In calendar year 2024, Abyssinian Development Corporation reported that 88.5% of its $23.2 million in expenses went to program services, 11.0% to management and general and 0.5% to fundraising (Form 990, Part IX).
How much does Abyssinian Development Corporation pay its top executive?
The largest total compensation Abyssinian Development Corporation reported for one person in calendar year 2024 was $154,392, for the role of COO/CFO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Abyssinian Development Corporation get its money?
Of $31.9 million in revenue in calendar year 2024, 0.7% came from contributions and grants (including 0.5% from government grants) and 33.6% from program service revenue (Form 990, Part VIII).
Is Abyssinian Development Corporation a registered charity?
The IRS lists EIN 13-3552154 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202503529349301400 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403209349327680 · read the filing
- 2022: Form 990 for calendar year 2022, object 202400719349300240 · read the filing
- 2021: Form 990 for calendar year 2021, object 202341379349301634 · read the filing
- 2020: Form 990 for calendar year 2020, object 202341379349301719 · read the filing
All filings for EIN 13-3552154: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.