Prospect Park Alliance Inc

Analysis

Prospect Park Alliance Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1987, 39 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Prospect Park Alliance Inc reported income of $14.1m and spending of $14.7m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.7m to $14.1m (+20%), an average of +4.7% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 80% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Prospect Park Alliance Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Fondo Permanente Para LA Administracion Operacion Y ($13.9m), Crystal Cove Conservancy ($14.1m) and Missouri Valley Conference Inc ($13.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $733k (5.0% of expenses). Other salaries and wages came to $5.8m. It paid $357k in professional fundraising fees. At year end it held assets of $40.9m against liabilities of $2.9m, net assets of $38.1m. It reported 195 employees.