Nysarc Inc

Analysis

Nysarc Inc is a registered charity in United States, based in Ballston Spa, NY. It received its IRS tax-exemption ruling in May 1954, 72 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 December 2023, Nysarc Inc reported income of $24.4m and spending of $25.3m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $26.1m to $24.4m (-6.2%), an average of -1.6% a year. The sharpest change came in the year to December 2022, when income rose by 16%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Nysarc Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include United Community Action Program Inc ($24.4m), Bay Area Lutheran Homes Inc ($24.4m) and Foxdale Village Corporation ($24.4m).

On its Form 990 for the period ending December 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 $620k (2.5% of expenses). Other salaries and wages came to $15.6m. At year end it held assets of $14.9m against liabilities of $8.8m, net assets of $6.0m. It reported 492 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.