Next City Inc

Analysis

Next City Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 2004, 22 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 December 2023, Next City Inc reported income of $1.4m and spending of $1.2m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $860k to $1.4m (+65%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Next City Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within PA. Charities of a similar size with the same main cause include Habitat for Humanity of Northwest Arkansas Inc ($1.4m), Scriptures in Use ($1.4m) and Lutheran Camping Corporation of Central Pennsylvania ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $123k (10% of expenses). Other salaries and wages came to $496k. At year end it held assets of $785k against liabilities of $52k, net assets of $733k. It reported 12 employees.