Alliance for Coney Island Inc

Analysis

Alliance for Coney Island Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2013, 13 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 June 2023, Alliance for Coney Island Inc reported income of $1.1m and spending of $1.4m, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.1m (-13%), an average of -3.5% a year. The sharpest change came in the year to June 2022, when income rose by 232%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alliance for Coney Island Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Zenith Services Incorporated ($1.1m), Spencer Community Economic Development Inc ($1.1m) and Forward Cities Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $66k (4.8% of expenses). Other salaries and wages came to $190k. At year end it held assets of $663k against liabilities of $169k, net assets of $494k. It reported 7 employees.