Near West Side Initiative Inc

Analysis

Near West Side Initiative Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in April 2009, 17 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, Near West Side Initiative Inc reported income of $663k and spending of $1.4m, spending 209% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $663k (-52%), an average of -17% a year. The sharpest change came in the year to December 2021, when income dropped by 49%. Over the whole period it spent 120% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Near West Side Initiative Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Placemade ($663k), Sior Foundation ($663k) and Industrial Opportunities Inc ($663k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $63k (4.5% of expenses). At year end it held assets of $10.2m against liabilities of $2.7m, net assets of $7.5m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.