Brooklyn Bridge Park Corporation

Analysis

Brooklyn Bridge Park Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2011, 15 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2023, Brooklyn Bridge Park Corporation reported income of $31.0m and spending of $38.6m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $94.7m to $31.0m (-67%), an average of -24% a year. The sharpest change came in the year to June 2020, when income dropped by 75%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Brooklyn Bridge Park Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include United States Anti-Doping Agency ($30.8m), United States Ski Association ($31.9m) and Alameda County Agricultural Fair Association ($30.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $858k (2.2% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $512.4m against liabilities of $132.8m, net assets of $379.6m. It reported 80 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.