Downtown Schenectady Improvement Corp

Analysis

Downtown Schenectady Improvement Corp is a registered charity in United States, based in Schenectady, NY. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Downtown Schenectady Improvement Corp reported income of $1.5m and spending of $1.6m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $703k to $1.5m (+116%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 92%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Schenectady Improvement Corp sits at the 82nd percentile: it is larger than about 82% 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 Clean Memphis Organization ($1.5m), Cape & Islands Community Development Inc ($1.5m) and Manufacture Good ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. Other salaries and wages came to $368k. At year end it held assets of $753k against liabilities of $181k, net assets of $571k. It reported 22 employees.