Town Square Inc

Analysis

Town Square Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2005, 21 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, Town Square Inc reported income of $106k and spending of $157k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $229k to $106k (-54%), an average of -18% a year. The sharpest change came in the year to December 2020, when income dropped by 65%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Town Square Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 38th percentile within NY. Charities of a similar size with the same main cause include Uptown Sapulpa Action Inc ($106k), Monadnock Institute for Community Advancement and Sustainability ($106k) and National Charity League North Tustin Chapter ($106k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $40k (25% of expenses). At year end it held assets of $198k against liabilities of $11k, net assets of $187k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.