Long Island Networking Elite Inc

Analysis

Long Island Networking Elite Inc is a registered charity in United States, based in Hauppauge, NY. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Long Island Networking Elite Inc reported income of $163k and spending of $169k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $242k to $163k (-33%), an average of -9.5% a year. The sharpest change came in the year to December 2021, when income rose by 541%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Long Island Networking Elite Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Samuel Staten Sr Charity Fund ($163k), Poulsbo - North Kitsap Rotary Foundation ($163k) and Daniel Pearl Foundation ($163k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 158% of the total. At year end it held assets of $142k against liabilities of $132k, net assets of $10k.

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.