Downtown Brooklyn Partnership

Analysis

Downtown Brooklyn Partnership is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 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, Downtown Brooklyn Partnership reported income of $2.1m and spending of $2.0m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.7m to $2.1m (-63%), an average of -22% a year. The sharpest change came in the year to June 2020, when income dropped by 52%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Brooklyn Partnership sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include One for the World Inc ($2.1m), Council of State Administrators of Vocational Rehabilitation ($2.1m) and Higher Ground Building Company ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $659k (33% of expenses). Other salaries and wages came to $478k. At year end it held assets of $7.6m against liabilities of $824k, net assets of $6.8m. It reported 41 employees.