Special Olympics New York Inc

Analysis

Special Olympics New York Inc is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in April 1970, 56 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, Special Olympics New York Inc reported income of $10.7m and spending of $14.1m, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.3m to $10.7m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Special Olympics New York Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Healthaccess Inc ($10.7m), Villa Siena ($10.7m) and Child Poverty Action Lab ($10.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $386k (2.7% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $8.3m against liabilities of $5.2m, net assets of $3.1m. It reported 74 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.