Fund for the City of New York Inc

Analysis

Fund for the City of New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1982, 44 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Fund for the City of New York Inc reported income of $67.3m and spending of $63.9m, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $97.5m to $67.3m (-31%), an average of -8.9% a year. The sharpest change came in the year to September 2023, when income dropped by 41%. Over the whole period it spent 97% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fund for the City of New York Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Nebraska Community Foundation ($66.5m), Greater Hartford Gives Foundation ($67.4m) and Knights of Columbus Charitable Fund Inc ($66.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $3.5m (5.5% of expenses). Other salaries and wages came to $21.9m. It paid $318k in professional fundraising fees. At year end it held assets of $166.1m against liabilities of $80.6m, net assets of $85.6m. It reported 1,487 employees.