Downtown Syracuse Foundation Inc

Analysis

Downtown Syracuse Foundation Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in August 2012, 14 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 Syracuse Foundation Inc reported income of $177k and spending of $185k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $407k to $177k (-57%), an average of -56% a year. The sharpest change came in the year to December 2023, when income dropped by 57%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Syracuse Foundation Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Flag Velo Inc ($177k), Stockyards City Main Street Inc ($177k) and Friends of Downtown Pensacola Inc ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. At year end it held assets of $481k against liabilities of $182k, net assets of $299k.