Carefirst Ny Inc

Analysis

Carefirst Ny Inc is a registered charity in United States, based in Painted Post, NY. It received its IRS tax-exemption ruling in June 1987, 39 years ago. 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, Carefirst Ny Inc reported income of $6.9m and spending of $7.2m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.5m to $6.9m (+5.2%), an average of +1.3% a year. The sharpest change came in the year to December 2022, when income dropped by 23%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carefirst Ny Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Warren Achievement Center Inc ($6.9m), Utah Youth Soccer Association Inc ($6.9m) and Alcott School ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $225k (3.1% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $8.8m against liabilities of $723k, net assets of $8.1m. It reported 99 employees.