Downstate Technology Center Inc

Analysis

Downstate Technology Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2003, 23 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 2023, Downstate Technology Center Inc reported income of $2.7m and spending of $2.1m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.7m (+7.3%), an average of +1.8% a year. The sharpest change came in the year to June 2020, when income dropped by 25%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downstate Technology Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Hoboken Business Alliance Inc ($2.7m), Change Elemental ($2.7m) and Labfour Career Training Institute ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. At year end it held assets of $4.0m against liabilities of $773k, net assets of $3.3m.