Abundance Capital

Nonprofit profile at a glance

EIN
872850443
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Greenville, SC, USA
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Official website

Reported finances

Revenue
$836,532
Expenses
$341,896
Assets
$2,336,520
Liabilities
$1,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MIKE GATCHELL (CEO/CO-FOUND)

Highest reported compensation

  • MIKE GATCHELL (CEO/CO-FOUND): $87,000 total reported compensation
  • MARGARET GIFFORD (CO-FOUNDER): $87,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Abundance capital is a nonprofit, venture philanthropy platform, helping charitable donors activate place-based impact investing, generating inclusive prosperity and creating sustainable local economies.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 92
  • Accountability: 72
  • Sustainability: 80
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.2%; rating input score 37
  • Program expense ratio: 80.3%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 59.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 6.83; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 50.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -12.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -3.9% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 46.1% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 37.2% of revenue deployed · 80.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $275K in reported program spending
  • Leadership: top reported pay $87K · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.