Verrazano Rotary Charitable Foundation

Analysis

Verrazano Rotary Charitable Foundation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2004, 22 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 2022, Verrazano Rotary Charitable Foundation reported income of $138k and spending of $142k, spending 103% of its income. Across the 3 years on record, from December 2019 to December 2022, income grew from $130k to $138k (+6.3%), an average of +3.1% a year. The sharpest change came in the year to December 2022, when income rose by 191%. Over the whole period it spent 75% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Verrazano Rotary Charitable Foundation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within NY. Charities of a similar size with the same main cause include Imprint Changing Tomorrow Today ($138k), S & S Club Inc ($138k) and North Hall Community Education Foundation Inc ($138k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 93% of the total. At year end it held assets of $484k against liabilities of $0, net assets of $484k.