Fulton Mall Improvement Assoc Inc

Analysis

Fulton Mall Improvement Assoc Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1977, 49 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, Fulton Mall Improvement Assoc Inc reported income of $3.0m and spending of $2.7m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $3.0m (+44%), an average of +9.6% a year. The sharpest change came in the year to June 2020, when income rose by 28%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fulton Mall Improvement Assoc 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 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Lower Allen Township Development Authority ($3.0m), Pike Place Market Foundation ($3.0m) and Glenbrook Underground Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $362k. At year end it held assets of $1.5m against liabilities of $176k, net assets of $1.3m.