Childrens Place at the Plaza Inc

Analysis

Childrens Place at the Plaza Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in March 1988, 38 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Childrens Place at the Plaza Inc reported income of $1.8m and spending of $1.8m, spending 104% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.8m to $1.8m (-3.0%), an average of -0.8% a year. The sharpest change came in the year to August 2020, when income dropped by 25%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Childrens Place at the Plaza Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($1.8m), Fremont Christian School ($1.8m) and New Mexico State Bar Foundation ($1.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 7.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $69k (3.7% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $702k against liabilities of $400k, net assets of $302k. It reported 64 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.