Cares of Ny Inc

Analysis

Cares of Ny Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in June 1993, 33 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 April 2023, Cares of Ny Inc reported income of $15.0m and spending of $14.4m, spending 96% of its income. Across the 4 years on record, from April 2020 to April 2023, income grew from $8.0m to $15.0m (+86%), an average of +23% a year. The sharpest change came in the year to April 2022, when income rose by 58%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cares of Ny 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 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Community Drug Board Inc ($15.0m), Morselife Health System Inc ($15.0m) and Tucson Residence Foundation Inc ($15.0m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 92% and program service revenue 8.0% of the total. Other salaries and wages came to $2.7m. At year end it held assets of $8.2m against liabilities of $1.6m, net assets of $6.7m. It reported 50 employees.