Southside Institutions Neighborhood Alliance Inc

Analysis

Southside Institutions Neighborhood Alliance Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in July 1979, 47 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Southside Institutions Neighborhood Alliance Inc reported income of $1.7m and spending of $1.7m, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $3.6m to $1.7m (-52%), an average of -22% a year. The sharpest change came in the year to December 2021, when income dropped by 51%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Southside Institutions Neighborhood Alliance Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within CT. Charities of a similar size with the same main cause include National Council of Jewish Women Incorporated ($1.7m), Greencorps Chicago ($1.7m) and Business Ownership Initiative of Indiana Inc ($1.7m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 58% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $293k (17% of expenses). Other salaries and wages came to $310k. At year end it held assets of $5.4m against liabilities of $197k, net assets of $5.2m. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.