Consumer Reports Inc

Analysis

Consumer Reports Inc is a registered charity in United States, based in Yonkers, NY. It received its IRS tax-exemption ruling in April 1984, 42 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 May 2023, Consumer Reports Inc reported income of $249.7m and spending of $253.9m, spending 102% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $254.5m to $249.7m (-1.9%), an average of -0.5% a year. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Consumer Reports Inc 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 100th percentile within NY. Charities of a similar size with the same main cause include Calhfa Homeowner Relief Corporation ($243.3m), Western University of Health Sciences ($253.3m) and Phi Group Return ($241.9m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $4.7m (1.8% of expenses). Other salaries and wages came to $80.1m. It paid $206k in professional fundraising fees. At year end it held assets of $462.1m against liabilities of $182.2m, net assets of $279.9m. It reported 673 employees.