Corning Classic Charities

Analysis

Corning Classic Charities is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in May 1979, 47 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Corning Classic Charities reported income of $1.1m and spending of $979k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.1m (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Corning Classic Charities sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Arts Council of the Morris Area ($1.1m), Jobs with Justice Education Fund ($1.1m) and Sister Cities International Incorporated ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.8% and program service revenue 94% of the total. Other salaries and wages came to $144k. At year end it held assets of $2.0m against liabilities of $216k, net assets of $1.7m. It reported 6 employees.