Grow Brooklyn Inc

Analysis

Grow Brooklyn Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Grow Brooklyn Inc reported income of $1.5m and spending of $1.3m, spending 88% of its income. Across the 6 years on record, from September 2018 to September 2023, income grew from $848k to $1.5m (+79%), an average of +12% a year. The sharpest change came in the year to September 2020, when income rose by 29%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Grow Brooklyn Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Unlimited Potential Inc ($1.5m), The Center at 353 Inc ($1.5m) and The Arc of Southwest Alabama ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $82k (6.2% of expenses). Other salaries and wages came to $914k. At year end it held assets of $2.2m against liabilities of $1.5m, net assets of $762k. It reported 72 employees.