Fifth Avenue Association Business Improvement District Inc

Analysis

Fifth Avenue Association Business Improvement District Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2022, 4 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, Fifth Avenue Association Business Improvement District Inc reported income of $8.6m and spending of $6.9m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.2m to $8.6m (+167%), an average of +28% a year. The sharpest change came in the year to June 2020, when income rose by 100%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fifth Avenue Association Business Improvement District Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Greater Phoenix Economic Council ($8.6m), Maryland Rural Development Corporation ($8.6m) and Delta Community Action Association Inc ($8.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $631k (9.2% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $4.8m against liabilities of $2.0m, net assets of $2.8m. It reported 60 employees.