Seventh Regiment Armory Conservancy Inc

Analysis

Seventh Regiment Armory Conservancy Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Seventh Regiment Armory Conservancy Inc reported income of $23.0m and spending of $35.1m, spending 153% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $28.4m to $23.0m (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2020, when income dropped by 18%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Seventh Regiment Armory Conservancy Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Connecticut Public Broadcasting Inc ($22.9m), Cox Science Center and Aquarium Inc ($23.1m) and Oregon Museum of Science and Industry ($22.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $1.9m (5.5% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $271.9m against liabilities of $4.9m, net assets of $267.1m. It reported 388 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.