Northern New York Community Foundation Inc

Analysis

Northern New York Community Foundation Inc is a registered charity in United States, based in Watertown, NY. It received its IRS tax-exemption ruling in November 1942, 84 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Northern New York Community Foundation Inc reported income of $19.2m and spending of $5.8m, leaving 70% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.5m to $19.2m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 73%. Over the whole period it spent 36% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Northern New York Community Foundation 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 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Jewish Federation of St Louis ($19.2m), Florida Gulf Coast University Financing Corporation ($19.2m) and United Way of Central Oklahoma ($19.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. Compensation of current officers, directors and key employees was $335k (5.8% of expenses). At year end it held assets of $152.6m against liabilities of $14.7m, net assets of $137.8m. It reported 10 employees.