New York Credit Union Foundation

Analysis

New York Credit Union Foundation is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in November 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, 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, New York Credit Union Foundation reported income of $171k and spending of $250k, spending 146% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $272k to $171k (-37%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. 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, New York Credit Union Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Cooperation Cannon River ($171k), Dad Guild Inc ($171k) and Downtown Hays Development Corporation ($171k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 128% of the total. At year end it held assets of $1.2m against liabilities of $98k, net assets of $1.1m.