First Chernomorets USA Inc

Analysis

First Chernomorets USA Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 2002, 24 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 December 2023, First Chernomorets USA Inc reported income of $172k and spending of $177k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $48k to $172k (+258%), an average of +258% a year. The sharpest change came in the year to December 2023, when income rose by 258%. Over the whole period it spent 131% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, First Chernomorets USA Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Society of St Vincent de Paul Holy Trinity Conference ($172k), St Luke Community Christian Center ($172k) and His Love Maternity Ministry Inc ($172k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $13k against liabilities of $0, net assets of $13k.