163rd Street Improvement Council Inc

Analysis

163rd Street Improvement Council Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, 163rd Street Improvement Council Inc reported income of $7.6m and spending of $7.9m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $7.6m (+122%), an average of +22% a year. The sharpest change came in the year to June 2023, when income rose by 87%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 163rd Street Improvement Council Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Fenway Community Development Corp ($7.6m), Lazarus House Incorporated ($7.6m) and Crotona Park West Housing Development Fund Corporation ($7.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $209k (2.7% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $10.2m against liabilities of $2.7m, net assets of $7.5m. It reported 62 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.