Solomon Center Inc

Analysis

Solomon Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2022, Solomon Center Inc reported income of $593k and spending of $732k, spending 124% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $644k to $593k (-8.0%), an average of -2.8% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Solomon Center Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Crosspoint Family Life Ministry Inc ($593k), Friends of Bais Yisroel ($593k) and Praise Center Ministries Inc ($592k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $307k against liabilities of $46k, net assets of $261k.