PS 87 Pa Inc

Analysis

PS 87 Pa Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1987, 39 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, PS 87 Pa Inc reported income of $560k and spending of $513k, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.0m to $560k (-72%), an average of -27% a year. The sharpest change came in the year to June 2021, when income dropped by 84%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, PS 87 Pa Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Foundation for the Reichhold Center for the Arts ($560k), Senior Citizens Housing Development Corporation of Ville Platte ($560k) and Advocacy Inc ($560k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.3% of the total. At year end it held assets of $1.0m against liabilities of $8,253, net assets of $1.0m.