University Settlement Society of New York

Analysis

University Settlement Society of New York is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1938, 88 years ago. 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, University Settlement Society of New York reported income of $51.4m and spending of $52.2m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $37.0m to $51.4m (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, University Settlement Society of New York 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 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Wisconsin Lutheran College ($51.3m), Metropolitan Washington Council of Governments ($51.5m) and Homefirst Services of Santa Clara County ($51.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $572k (1.1% of expenses). Other salaries and wages came to $28.1m. At year end it held assets of $44.1m against liabilities of $14.6m, net assets of $29.5m. It reported 880 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.