Suitup Incorporated

Analysis

Suitup Incorporated is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Suitup Incorporated reported income of $1.7m and spending of $1.6m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $291k to $1.7m (+485%), an average of +56% a year. The sharpest change came in the year to December 2021, when income rose by 150%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Suitup Incorporated sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Hunter College Auxiliary Enterprises Corporation ($1.7m), Miftaahul Uloom Inc ($1.7m) and Classroom 2 Community Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $83k (5.3% of expenses). Other salaries and wages came to $827k. At year end it held assets of $659k against liabilities of $7,159, net assets of $652k. It reported 14 employees.