Abundant Center

Nonprofit profile at a glance

EIN
461303636
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Fremont, CA, USA
Phone
5105090965
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$226,042
Expenses
$57,210
Assets
$854,501
Liabilities
$15,000

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Fan Lu (President and Board of Director)

People named in this filing

  • Fan Lu (President and Board of Director)
  • Allen Lee (Treasurer and Board of Director)
  • Stanley Wang (Board of Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide financial support and professional development to the poor, disadvantaged, and spiritually broken, and bring forth inner abundance through character training programs.

What it reported doing in 2024

Character training programs. Business ethics and career planning classes to around 1,038 university students in 8 weeks. Twice a week character building classes for students groups that are around 25-45 in size and ages 4-18. 8-14 online / phone / face-to-face counselings in local community per week. Produced bilingual songs and music videos as an alternative form of media to propagate character development.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 83% 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 the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 65
  • Accountability: 88
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.8%; rating input score 26
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 50%; rating input score 50; 42nd percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 74.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 14.94; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 16.9% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 25.8% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $57K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 26/100.
  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.