New York Cares Inc

Analysis

New York Cares Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1990, 36 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 September 2023, New York Cares Inc reported income of $11.9m and spending of $10.1m, spending 84% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $10.9m to $11.9m (+9.4%), an average of +2.3% a year. The sharpest change came in the year to September 2023, when income rose by 31%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New York Cares Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include United Way of Monterey County ($11.9m), United Way of Berks County ($12.0m) and Akron Community Foundation ($11.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $641k (6.4% of expenses). Other salaries and wages came to $4.3m. It paid $90k in professional fundraising fees. At year end it held assets of $12.4m against liabilities of $1.0m, net assets of $11.4m. It reported 102 employees.