The Center for New York City

Analysis

The Center for New York City is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, The Center for New York City reported income of $236.8m and spending of $235.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $47.9m to $236.8m (+394%), an average of +49% a year. The sharpest change came in the year to December 2022, when income rose by 1170%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Center for New York City sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Masonic Villages of the Grand Lodge of Pennsylvania ($232.2m), Collegiate Housing Foundation ($249.9m) and Preservation Freehold Company ($205.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $473k (0.2% of expenses). Other salaries and wages came to $8.1m. At year end it held assets of $124.3m against liabilities of $25.5m, net assets of $98.7m. It reported 128 employees.