The New York Foundling

Analysis

The New York Foundling is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, The New York Foundling reported income of $230.3m and spending of $225.0m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $157.6m to $230.3m (+46%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The New York Foundling sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Vinfen Corporation ($229.7m), St Marys Food Bank Alliance ($231.6m) and Mers Missouri Goodwill Industries ($224.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $1.4m (0.6% of expenses). Other salaries and wages came to $116.9m. At year end it held assets of $325.8m against liabilities of $101.9m, net assets of $223.8m. It reported 2,984 employees.