Long Island High Technology Incubator Inc

Analysis

Long Island High Technology Incubator Inc is a registered charity in United States, based in Stony Brook, NY. It received its IRS tax-exemption ruling in December 1995, 31 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 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 2024, Long Island High Technology Incubator Inc reported income of $1.8m and spending of $2.4m, spending 131% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.1m to $1.8m (-13%), an average of -2.8% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Long Island High Technology Incubator Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Johnstown Area Regional Industries Inc ($1.8m), Iowa Citizens for Community Improvement ($1.8m) and Kathleen Anderson Comprehensive Work Center Inc ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.9% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $355k (15% of expenses). Other salaries and wages came to $318k. At year end it held assets of $16.8m against liabilities of $2.4m, net assets of $14.4m.