Long Island City Business Improvement District Inc

Analysis

Long Island City Business Improvement District Inc is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in September 2007, 19 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 June 2023, Long Island City Business Improvement District Inc reported income of $1.0m and spending of $1.0m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $914k to $1.0m (+12%), an average of +2.9% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Long Island City Business Improvement District Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Division-Midway Alliance for Community Improvement ($1.0m), Bristol Works Inc ($1.0m) and Joint Apprenticeship Program Fund Asbestos Workers Local No 2 ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.8% and program service revenue 98% of the total. At year end it held assets of $592k against liabilities of $83k, net assets of $509k.