EIN 13-3552154

Abyssinian Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
27
Year formed
1989
Most recent tax filings
2023-12-01
NTEE code, primary
Description
Abyssinian Development Corporation focuses on providing comprehensive community development through affordable housing for low and moderate income families, educational programs, and first-time home-buyer training to the Harlem community of New York City. Their real estate properties offer low to moderate income housing and tenant services. They also have an education plan that partners with traditional public schools in NYC's school district 5 to ensure students can learn, grow, and excel to be prepared for college and beyond.
Total revenues
$11,745,428
2023
Total expenses
$17,192,373
2023
Total assets
$95,675,744
2023
Num. employees
27
2023

Program areas at Abyssinian Development Corporation

Real 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 investments in the Development and preservation of affordable housing.
Our harlem economic literacy program provides financial literacy and home-ownership counseling services to first-time homebuyers through workshop training, case management services, and grant application assistance.
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 district-wide annual stem expo.

Who funds Abyssinian Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
ImpactAssetsGeneral Support$10,000
New Venture FundCapacity Building$10,000

Financials for Abyssinian Development Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$222,382
Program services$10,578,331
Investment income and dividends$123,182
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$-12,218
Miscellaneous revenues$833,751
Total revenues$11,745,428

Form 990s for Abyssinian Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-15990View PDF
2022-122024-03-11990View PDF
2021-122023-05-17990View PDF
2020-122023-05-17990View PDF
2019-122022-03-30990View PDF
...and 9 more Form 990s
Data update history
January 6, 2025
Received grants
Identified 2 new grant, including a grant for $10,000 from ImpactAssets
May 25, 2024
Posted financials
Added Form 990 for fiscal year 2022
May 21, 2024
Updated personnel
Identified 1 new personnel
July 9, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 9, 2023
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Housing and shelter organizationsCharities
Issues
EducationHuman servicesHousing
Characteristics
State / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
2283 Adam Clayton Powell JR Blvd
New York, NY 10030
Metro area
New York-Newark-Jersey City, NY-NJ-PA
County
New York County, NY
Website URL
adcorp.org 
Phone
(646) 442-5999
Facebook page
AbyssinianDevelopmentCorporation 
Twitter profile
@adcnow 
IRS details
EIN
13-3552154
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1989
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
L25: Housing Rehabilitation
NAICS code, primary
62422: Community Housing Services
Parent/child status
Independent
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