Phipps Neighborhoods Inc

Analysis

Phipps Neighborhoods Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1973, 53 years ago. 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, Phipps Neighborhoods Inc reported income of $17.8m and spending of $17.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $27.8m to $17.8m (-36%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 129%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phipps Neighborhoods Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Western Connecticut Health Network Affiliates Inc ($17.8m), Transitions - Mental Health Association ($17.8m) and Chapel Hill-Chauncy Hall School ($17.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.9% of the total. Other salaries and wages came to $10.6m. At year end it held assets of $20.6m against liabilities of $7.6m, net assets of $12.9m. It reported 436 employees.