Brooklyn Community Foundation

Analysis

Brooklyn Community Foundation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1999, 27 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Brooklyn Community Foundation reported income of $8.7m and spending of $23.1m, spending 265% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $7.6m to $8.7m (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2021, when income rose by 465%. Over the whole period it spent 69% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Brooklyn Community Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Bokf Foundation ($8.7m), Block 3 Community Urban Redevelopment Corporation ($8.7m) and Parkersburg Area Community Foundation Inc ($8.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 213% of the total. Compensation of current officers, directors and key employees was $310k (1.3% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $124.2m against liabilities of $2.5m, net assets of $121.7m.