St Nicks Alliance Corp

Analysis

St Nicks Alliance Corp is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1976, 50 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, St Nicks Alliance Corp reported income of $47.2m and spending of $47.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $31.4m to $47.2m (+51%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, St Nicks Alliance Corp sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Readyone Industries Inc ($46.9m), South Texas Food Bank ($47.3m) and Home Builders Institute ($46.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $1.0m (2.1% of expenses). Other salaries and wages came to $22.6m. At year end it held assets of $48.1m against liabilities of $25.2m, net assets of $22.9m. It reported 958 employees.