Neo Philanthropy Inc

Analysis

Neo Philanthropy Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 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 (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, Neo Philanthropy Inc reported income of $167.6m and spending of $128.3m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $107.0m to $167.6m (+57%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 27%. 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, Neo Philanthropy 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 99th percentile within NY. Charities of a similar size with the same main cause include Concepts of Independence Inc ($165.8m), Med Centro Inc ($167.7m) and San Francisco Food Bank ($165.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $2.0m (1.5% of expenses). Other salaries and wages came to $26.2m. At year end it held assets of $199.9m against liabilities of $19.6m, net assets of $180.3m. It reported 401 employees.