Hub-Third Ave Merchants District Management Association Inc

Analysis

Hub-Third Ave Merchants District Management Association Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Hub-Third Ave Merchants District Management Association Inc reported income of $639k and spending of $788k, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $792k to $639k (-19%), an average of -5.2% a year. The sharpest change came in the year to June 2020, when income rose by 60%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hub-Third Ave Merchants District Management Association Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Flint River Fresh Inc ($639k), Lever Inc ($639k) and Street Collective ($639k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $223k. At year end it held assets of $11k against liabilities of $128k, net assets of -$117k. It reported 15 employees.

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.