City Report Inc

Analysis

City Report Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, City Report Inc reported income of $3.5m and spending of $7.1m, spending 199% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.3m to $3.5m (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2023, when income dropped by 44%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, City Report Inc sits at the 95th percentile: it is larger than about 95% 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 Foundation for Cultural Review Inc ($3.5m), Mission West Virginia ($3.5m) and Lindsay Wildlife Museum ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $1.4m (19% of expenses). Other salaries and wages came to $3.4m. It paid $160k in professional fundraising fees. At year end it held assets of $3.8m against liabilities of $383k, net assets of $3.4m. It reported 41 employees.