Children of Promise NYC

Analysis

Children of Promise NYC is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover crime and legal-related, which this site groups under human rights and equality. 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 June 2023, Children of Promise NYC reported income of $4.6m and spending of $4.6m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.1m to $4.6m (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 106% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Children of Promise NYC sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Disability Rights Arizona ($4.6m), Real Escape From the Sex Trade ($4.6m) and Statewide Legal Services of Connecticut Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $220k (4.8% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $5.2m against liabilities of $6.0m, net assets of -$774k. It reported 35 employees.