Abyssinian Development Corporation
Abyssinian Development Corporation consistently operates at a deficit, drawing down assets while reporting no officer compensation.
EIN: 133552154 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $32.4M |
| Total Expenses | $17.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $95 |
| Net Assets | $13.0M |
| Transparency Score | 65/100 |
Is Abyssinian Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Abyssinian Development Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Abyssinian Development Corporation
Abyssinian Development Corporation (EIN: 133552154) is a nonprofit organization based in New York, NY. The organization reported total revenue of $32.4M and total assets of $118.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Abyssinian Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Abyssinian Development Corporation is a large nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.7M |
| Total Expenses | $17.2M |
| Surplus / Deficit | $-5,446,945 |
| Total Assets | $95.7M |
| Total Liabilities | $82.7M |
| Net Assets | $13.0M |
| Operating Margin | -46.4% |
| Debt-to-Asset Ratio | 86.5% |
| Months of Reserves | 66.8 months |
Financial Health Grade: C
In 2023, Abyssinian Development Corporation reported a deficit of $5.4M with expenses exceeding revenue, holds 66.8 months of operating reserves (strong position), has a debt-to-asset ratio of 86.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Abyssinian Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -5.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.9% | +7.1% | -5.6% |
| 2022 | -14.8% | -9.9% | -6.1% |
| 2021 | +14.5% | +7.6% | -4.2% |
| 2020 | -6.1% | +4.0% | -4.4% |
| 2019 | -9.0% | +4.8% | -5.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Abyssinian Development Corporation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Abyssinian Development Corporation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 86.5%.
Executive Compensation Analysis
Abyssinian Development Corporation consistently reports 0% for officer compensation across all available filings, which is unusual for an organization of its size with assets exceeding $95 million. This suggests either uncompensated leadership or compensation being categorized differently, which could obscure a complete picture of executive remuneration.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Abyssinian Development Corporation's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in most recent years (e.g., $17.19M expenses vs. $11.74M revenue in 2023).
- Significant decline in total assets over time, from $142M in 2015 to $95.6M in 2023.
- High liabilities relative to assets, indicating a potentially leveraged financial position (e.g., $82.7M liabilities against $95.6M assets in 2023).
- Unusual reporting of 0% officer compensation for an organization of this scale, potentially obscuring executive remuneration.
- Fluctuating revenue streams, with a peak of $37.2M in 2017 dropping to $11.7M in 2023, suggesting reliance on inconsistent funding sources.
Strengths
The following positive indicators were identified for Abyssinian Development Corporation:
- Maintains substantial total assets, with $95.6M in 2023, providing a base for operations.
- Long history of IRS 990 filings (13 filings), indicating consistent reporting and compliance.
- Significant revenue generation, with latest reported revenue at $32.3M, though this figure is not consistent with recent annual filings.
Frequently Asked Questions about Abyssinian Development Corporation
Is Abyssinian Development Corporation a legitimate charity?
Abyssinian Development Corporation (EIN: 133552154) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $32.4M. 5 red flags identified. 3 strengths noted. Financial health grade: C.
How does Abyssinian Development Corporation spend its money?
Abyssinian Development Corporation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Abyssinian Development Corporation tax-deductible?
Abyssinian Development Corporation is registered as a tax-exempt nonprofit (EIN: 133552154). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Abyssinian Development Corporation CEO make?
Abyssinian Development Corporation's highest-compensated officer earns $95 annually. The organization reported $32.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Abyssinian Development Corporation's spending goes to programs?
Abyssinian Development Corporation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Abyssinian Development Corporation located?
Abyssinian Development Corporation is headquartered in New York, New York and files with the IRS under EIN 133552154.
How many years of IRS 990 filings does Abyssinian Development Corporation have?
Abyssinian Development Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $32.4M in total revenue.
Is Abyssinian Development Corporation financially sustainable given its consistent operational deficits?
The organization has consistently reported expenses exceeding revenue, leading to operational deficits. For example, in 2023, expenses were $17.19M against $11.74M in revenue. This trend, coupled with a decline in total assets from $142M in 2015 to $95.6M in 2023, raises concerns about long-term financial sustainability without a clear strategy to increase revenue or reduce expenses.
How does Abyssinian Development Corporation manage its significant liabilities?
The organization carries substantial liabilities, such as $82.7M in 2023, which are a significant portion of its total assets ($95.6M). The consistent presence of high liabilities relative to assets, and sometimes exceeding assets as seen in 2014, indicates a reliance on debt or other obligations that need careful management to avoid financial distress.
What is the reason for 0% officer compensation reported across all filings?
Reporting 0% for officer compensation for an organization with tens of millions in revenue and assets is uncommon. This could mean that officers are volunteers, or their compensation is reported under other expense categories, which would require further investigation to understand the full scope of leadership remuneration and its impact on the organization's finances.
What is the primary source of revenue for Abyssinian Development Corporation?
The provided data does not detail the specific sources of revenue. However, the significant fluctuations in revenue, such as $37.2M in 2017 compared to $11.7M in 2023, suggest that the organization might rely on grants, specific projects, or other non-recurring income streams, which can lead to unpredictable financial performance.
How does the organization plan to reverse the trend of declining assets?
The organization's total assets have steadily declined from $142M in 2015 to $95.6M in 2023. This trend, combined with consistent operational deficits, indicates that the organization is likely drawing down its reserves to cover expenses. A clear strategy for asset preservation or growth would be crucial for its long-term viability.
Filing History
IRS 990 filing history for Abyssinian Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Abyssinian Development Corporation's revenue has declined by 49.1%, moving from $23.1M to $11.7M. Total assets decreased by 26.8% over the same period, from $130.7M to $95.7M. Total functional expenses fell by 29%, from $24.2M to $17.2M. In its most recent filing year (2023), Abyssinian Development Corporation reported a deficit of $5.4M, with expenses exceeding revenue. The organization holds $82.7M in liabilities against $95.7M in assets (debt-to-asset ratio: 86.5%), resulting in net assets of $13.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.7M | $17.2M | $95.7M | $82.7M | — | — |
| 2022 | $9.7M | $16.1M | $101.3M | $80.0M | — | View 990 |
| 2021 | $11.4M | $17.8M | $107.8M | $79.0M | — | View 990 |
| 2020 | $10.0M | $16.6M | $112.5M | $79.7M | — | View 990 |
| 2019 | $10.6M | $15.9M | $117.7M | $77.9M | — | View 990 |
| 2018 | $11.7M | $15.2M | $124.9M | $79.8M | — | View 990 |
| 2017 | $37.2M | $15.6M | $130.1M | $81.4M | — | View 990 |
| 2016 | $11.4M | $17.3M | $127.5M | $111.9M | — | View 990 |
| 2015 | $24.9M | $21.9M | $142.1M | $118.2M | — | View 990 |
| 2014 | $21.4M | $23.9M | $128.4M | $133.6M | — | View 990 |
| 2013 | $18.4M | $25.8M | $142.1M | $149.0M | — | View 990 |
| 2012 | $27.3M | $27.8M | $164.8M | $151.8M | — | — |
| 2011 | $23.1M | $24.2M | $130.7M | $117.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.7M, expenses of $17.2M, and assets of $95.7M (revenue +20.9% year-over-year).
- 2022: Revenue of $9.7M, expenses of $16.1M, and assets of $101.3M (revenue -14.8% year-over-year).
- 2021: Revenue of $11.4M, expenses of $17.8M, and assets of $107.8M (revenue +14.5% year-over-year).
- 2020: Revenue of $10.0M, expenses of $16.6M, and assets of $112.5M (revenue -6.1% year-over-year).
- 2019: Revenue of $10.6M, expenses of $15.9M, and assets of $117.7M (revenue -9.0% year-over-year).
- 2018: Revenue of $11.7M, expenses of $15.2M, and assets of $124.9M (revenue -68.7% year-over-year).
- 2017: Revenue of $37.2M, expenses of $15.6M, and assets of $130.1M (revenue +227.5% year-over-year).
- 2016: Revenue of $11.4M, expenses of $17.3M, and assets of $127.5M (revenue -54.4% year-over-year).
- 2015: Revenue of $24.9M, expenses of $21.9M, and assets of $142.1M (revenue +16.7% year-over-year).
- 2014: Revenue of $21.4M, expenses of $23.9M, and assets of $128.4M (revenue +16.0% year-over-year).
- 2013: Revenue of $18.4M, expenses of $25.8M, and assets of $142.1M (revenue -32.5% year-over-year).
- 2012: Revenue of $27.3M, expenses of $27.8M, and assets of $164.8M (revenue +18.2% year-over-year).
- 2011: Revenue of $23.1M, expenses of $24.2M, and assets of $130.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Abyssinian Development Corporation:
Data Sources and Methodology
This transparency report for Abyssinian Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.