Inner-City Scholarship Fund Inc

Analysis

Inner-City Scholarship Fund Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 August 2023, Inner-City Scholarship Fund Inc reported income of $19.3m and spending of $20.1m, spending 104% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $50.3m to $19.3m (-62%), an average of -21% a year. The sharpest change came in the year to August 2020, when income dropped by 55%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Inner-City Scholarship Fund Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Central Kansas Mental Health Center ($19.3m), National Able Network Inc ($19.3m) and Heart Rhythm Society Inc ($19.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $300k (1.5% of expenses). Other salaries and wages came to $1.2m. It paid $823k in professional fundraising fees. At year end it held assets of $107.2m against liabilities of $727k, net assets of $106.5m. It reported 35 employees.