Genspace NYC

Analysis

Genspace NYC is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Genspace NYC reported income of $481k and spending of $742k, spending 154% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $651k to $481k (-26%), an average of -7.3% a year. The sharpest change came in the year to December 2022, when income rose by 128%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Genspace NYC sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Massachusetts Business Alliance for Education Inc ($481k), Byram Hills Education Foundation Inc ($481k) and Latinolead Inc ($481k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $82k (11% of expenses). Other salaries and wages came to $448k. At year end it held assets of $520k against liabilities of $13k, net assets of $507k. It reported 13 employees.