Society for Preservation of Weeksville & Bedford-Stuyvesant Hi

Analysis

Society for Preservation of Weeksville & Bedford-Stuyvesant Hi is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1974, 52 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 June 2023, Society for Preservation of Weeksville & Bedford-Stuyvesant Hi reported income of $3.6m and spending of $2.5m, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $3.6m (+97%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 67%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Society for Preservation of Weeksville & Bedford-Stuyvesant Hi sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Gilroy Foundation ($3.6m), Finger Lakes Community College Foundation ($3.6m) and Iha Hospital Assistance Foundation Inc ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $165k (6.5% of expenses). Other salaries and wages came to $702k. At year end it held assets of $4.0m against liabilities of $180k, net assets of $3.8m. It reported 24 employees.