Philanthropy New York Inc

Analysis

Philanthropy New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1980, 46 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 December 2023, Philanthropy New York Inc reported income of $4.5m and spending of $5.3m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $4.5m (+9.5%), an average of +2.3% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Philanthropy New York Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Bishop Grady Villas ($4.5m), Community Assistance Center Inc ($4.5m) and Fayette County Child Development Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $313k (5.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $10.8m against liabilities of $2.7m, net assets of $8.1m. It reported 16 employees.