Norcorp Inc

Analysis

Norcorp Inc is a registered charity in United States, based in Westbury, NY. It received its IRS tax-exemption ruling in July 1987, 39 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Norcorp Inc reported income of $113k and spending of $203k, spending 179% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $211k to $113k (-46%), an average of -14% a year. The sharpest change came in the year to December 2020, when income dropped by 40%. Over the whole period it spent 155% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Norcorp Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within NY. Charities of a similar size with the same main cause include Adult Special Education Program Inc ($113k), Weymouth Junior Basketball League ($113k) and Last Patrol ($113k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $3.3m against liabilities of $1.3m, net assets of $2.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.