Nysarc Inc

Analysis

Nysarc Inc is a registered charity in United States, based in Utica, NY. It received its IRS tax-exemption ruling in May 1954, 72 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 December 2023, Nysarc Inc reported income of $42.2m and spending of $40.1m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $36.2m to $42.2m (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nysarc Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Trinity Health Life Pennsylvania Inc ($42.1m), Catholic Community Services of Southern Arizona Inc ($42.2m) and Birmingham-Southern College ($42.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $441k (1.1% of expenses). Other salaries and wages came to $23.7m. At year end it held assets of $30.6m against liabilities of $8.0m, net assets of $22.6m. It reported 968 employees.