Nysarc Inc

Analysis

Nysarc Inc is a registered charity in United States, based in Plattsburgh, NY. It received its IRS tax-exemption ruling in May 1954, 72 years ago. Its declared purposes cover employment, 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 December 2023, Nysarc Inc reported income of $39.0m and spending of $40.0m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $34.2m to $39.0m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2022, when income rose by 18%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nysarc 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 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Goodwill of the Coastal Empire Inc ($38.9m), Morgan Memorial Goodwill Industries Inc ($39.1m) and Feeding Texas ($38.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $489k (1.2% of expenses). Other salaries and wages came to $25.7m. At year end it held assets of $17.9m against liabilities of $7.3m, net assets of $10.6m. It reported 899 employees.