Friends of Crown Heights Educational Centers Inc

Analysis

Friends of Crown Heights Educational Centers Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1976, 50 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Crown Heights Educational Centers Inc reported income of $58.3m and spending of $57.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $38.9m to $58.3m (+50%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of Crown Heights Educational Centers Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Cwi Works Inc ($58.3m), Parsons Child & Family Center ($58.4m) and Ginok LLC ($58.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $705k (1.2% of expenses). Other salaries and wages came to $26.3m. At year end it held assets of $47.8m against liabilities of $36.2m, net assets of $11.6m. It reported 755 employees.