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Abyssinian Development Corporation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn’t provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$9.71M (2022)

Expenses
$16.1M (2022)

Total Assets
$101M (2022)

Total Liabilities
$80M (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,714,669
Expenses
$16,057,006
Net Income
-$6,342,337
Net Assets
$21,327,850
Notable Sources of Revenue Percent of Total Revenue
Contributions $60,600
0.6%
Program Services $9,569,228
98.5%
Investment Income -$151,096
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales -$12,218
Other Revenue $248,155
2.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $154,392
1.0%
Professional Fundraising Fees $0
Other Salaries and Wages $1,767,475
11.0%
Assets/Debt
Total Assets $101,310,476
Total Liabilities $79,982,626
Net Assets $21,327,850
Compensation
Key Employees and Officers Compensation Related Other
Princess Palmer (Coo/Cfo) $145,000 $0 $9,392
Rev Dr Calvin O Butts Iii (Chair) $0 $0 $0
Dr Cynthia Barnes (Board Member) $0 $0 $0
Alvin Vinson Treasurer (Human Resources Committee) $0 $0 $0
Dr Deborah Allen (Board Member) $0 $0 $0
G Anthony Andersen Joint Chair Of (Real Estate & Finance Comm) $0 $0 $0
Larry Dais (Chair Of Audit Committee) $0 $0 $0
Dr Sandra Johnson (Board Member) $0 $0 $0
Gerri Warren Merrick (Board Member) $0 $0 $0
Philip Isom (Board Member) $0 $0 $0
Darryl Williams (Board Member) $0 $0 $0
Timothy C Nash Jr (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,407,313
Expenses
$17,817,270
Net Income
-$6,409,957
Net Assets
$28,882,604
Notable Sources of Revenue Percent of Total Revenue
Contributions $60,642
0.5%
Program Services $10,485,369
91.9%
Investment Income $0
Bond Proceeds $289,671
2.5%
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales -$12,218
Other Revenue $583,849
5.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $153,731
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $1,667,133
9.4%
Assets/Debt
Total Assets $107,838,994
Total Liabilities $78,956,390
Net Assets $28,882,604
Compensation
Key Employees and Officers Compensation Related Other
Princess Palmer (Coo/Cfo) $145,000 $0 $8,732
Rev Dr Calvin O Butts Iii (Chair) $0 $0 $0
Dr Cynthia Barnes (Secretary) $0 $0 $0
Alvin Vinson Treasurer (Human Resources Committee) $0 $0 $0
Dr Deborah Allen (Board Member) $0 $0 $0
G Anthony Andersen Joint Chair Of (Real Estate & Finance Comm) $0 $0 $0
Larry Dais (Chair Of Audit Committee) $0 $0 $0
Dr Sandra Johnson (Board Member) $0 $0 $0
Gerri Warren Merrick (Board Member) $0 $0 $0
Philip Isom (Board Member) $0 $0 $0
Darryl Williams (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,959,988
Expenses
$16,551,494
Net Income
-$6,591,506
Net Assets
$32,856,308
Notable Sources of Revenue Percent of Total Revenue
Contributions $75,165
0.8%
Program Services $9,669,457
97.1%
Investment Income $79,392
0.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales -$12,218
Other Revenue $148,192
1.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $151,781
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $1,790,424
10.8%
Assets/Debt
Total Assets $112,525,482
Total Liabilities $79,669,174
Net Assets $32,856,308
Compensation
Key Employees and Officers Compensation Related Other
Princess Palmer (Coo/Cfo) $145,000 $0 $6,781
Rev Dr Calvin O Butts Iii (Chair) $0 $0 $0
Dr Cynthia Barnes (Secretary) $0 $0 $0
Alvin Vinson Treasurer Chair (Human Resources Committee) $0 $0 $0
Dr Deborah Allen (Board Member) $0 $0 $0
G Anthony Andersen Joint Chair Of (Real Estate & Finance Committee) $0 $0 $0
Larry Dais (Chair Of Audit Committee) $0 $0 $0
Dr Sandye Johnson (Board Member) $0 $0 $0
Gerri Warren Merrick (Board Member) $0 $0 $0
Philip Isom (Board Member) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,608,755
Expenses
$15,914,952
Net Income
-$5,306,197
Net Assets
$39,847,847
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $10,201,336
96.2%
Investment Income $256,676
2.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales -$12,278
Other Revenue $163,021
1.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $150,868
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $1,815,838
11.4%
Assets/Debt
Total Assets $117,725,626
Total Liabilities $77,877,779
Net Assets $39,847,847

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,657,995
Expenses
$15,182,727
Net Income
-$3,524,732
Net Assets
$45,154,068
Notable Sources of Revenue Percent of Total Revenue
Contributions $19,394
0.2%
Program Services $11,287,620
96.8%
Investment Income $53,836
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales -$8,186
Other Revenue $305,331
2.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $189,000
1.2%
Professional Fundraising Fees $0
Other Salaries and Wages $2,435,820
16.0%
Assets/Debt
Total Assets $124,908,427
Total Liabilities $79,754,359
Net Assets $45,154,068

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$37,237,464
Expenses
$15,634,649
Net Income
$21,602,815
Net Assets
$48,783,757
Notable Sources of Revenue Percent of Total Revenue
Contributions $40,063
0.1%
Program Services $10,583,547
28.4%
Investment Income $86,200
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $26,417,302
70.9%
Net Inventory Sales $0
Other Revenue $110,352
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $145,000
0.9%
Professional Fundraising Fees $0
Other Salaries and Wages $1,853,822
11.9%
Assets/Debt
Total Assets $130,142,393
Total Liabilities $81,358,636
Net Assets $48,783,757

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,371,620
Expenses
$17,323,441
Net Income
-$5,951,821
Net Assets
$15,578,294
Notable Sources of Revenue Percent of Total Revenue
Contributions $19,903
0.2%
Program Services $10,430,979
91.7%
Investment Income $2,831
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $783,880
6.9%
Net Inventory Sales $0
Other Revenue $134,027
1.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $297,019
1.7%
Professional Fundraising Fees $0
Other Salaries and Wages $1,920,954
11.1%
Assets/Debt
Total Assets $127,466,771
Total Liabilities $111,888,477
Net Assets $15,578,294

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$24,938,870
Expenses
$21,916,162
Net Income
$3,022,708
Net Assets
$23,933,353
Notable Sources of Revenue Percent of Total Revenue
Contributions $243,156
1.0%
Program Services $12,924,215
51.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $11,280,120
45.2%
Net Inventory Sales $0
Other Revenue $491,379
2.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $532,015
2.4%
Professional Fundraising Fees $1,500
0.0%
Other Salaries and Wages $3,961,977
18.1%
Assets/Debt
Total Assets $142,089,800
Total Liabilities $118,156,447
Net Assets $23,933,353

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$21,369,640
Expenses
$23,886,400
Net Income
-$2,516,760
Net Assets
-$5,187,810
Notable Sources of Revenue Percent of Total Revenue
Contributions $128,992
0.6%
Program Services $13,660,916
63.9%
Investment Income $150,987
0.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $7,268,432
34.0%
Net Inventory Sales $0
Other Revenue $160,313
0.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $598,574
2.5%
Professional Fundraising Fees $0
Other Salaries and Wages $3,931,097
16.5%
Assets/Debt
Total Assets $128,447,655
Total Liabilities $133,635,465
Net Assets -$5,187,810

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$18,414,861
Expenses
$25,804,322
Net Income
-$7,389,461
Net Assets
-$6,990,771
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,400,060
7.6%
Program Services $15,043,972
81.7%
Investment Income $197,775
1.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising -$281,789
Sales of Assets $1,882,697
10.2%
Net Inventory Sales $0
Other Revenue $172,146
0.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $749,594
2.9%
Professional Fundraising Fees $30,000
0.1%
Other Salaries and Wages $4,628,937
17.9%
Assets/Debt
Total Assets $142,058,194
Total Liabilities $149,048,965
Net Assets -$6,990,771

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$27,268,369
Expenses
$27,766,819
Net Income
-$498,450
Net Assets
$12,986,409
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,307,559
12.1%
Program Services $22,273,146
81.7%
Investment Income $137,542
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $539,658
2.0%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,010,464
3.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $788,962
2.8%
Professional Fundraising Fees $0
Other Salaries and Wages $6,704,908
24.1%
Assets/Debt
Total Assets $164,809,322
Total Liabilities $151,822,913
Net Assets $12,986,409

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$23,067,174
Expenses
$24,216,916
Net Income
-$1,149,742
Net Assets
$13,484,859
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,245,912
9.7%
Program Services $19,313,691
83.7%
Investment Income $90,290
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $853,901
3.7%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $563,380
2.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,056,124
4.4%
Professional Fundraising Fees $0
Other Salaries and Wages $4,953,027
20.5%
Assets/Debt
Total Assets $130,711,689
Total Liabilities $117,226,830
Net Assets $13,484,859

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

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