Parsons Child & Family Center

Analysis

Parsons Child & Family Center is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in January 1946, 80 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Parsons Child & Family Center reported income of $58.4m and spending of $58.7m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $45.9m to $58.4m (+27%), an average of +6.2% a year. The sharpest change came in the year to June 2020, when income rose by 16%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Parsons Child & Family Center 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 Friends of Crown Heights Educational Centers Inc ($58.3m), Treasure Coast Food Bank Incorporated ($58.4m) and Cwi Works Inc ($58.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.2% and program service revenue 90% of the total. Other salaries and wages came to $31.7m. At year end it held assets of $48.2m against liabilities of $26.6m, net assets of $21.6m. It reported 902 employees.