Civic New Markets Support Corporation II

Analysis

Civic New Markets Support Corporation II is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2019, 7 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 supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Civic New Markets Support Corporation II reported income of $999k and spending of $1.0m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $961k to $999k (+3.9%), an average of +1.0% a year. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Civic New Markets Support Corporation II sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include The Houston Tscpa Foundation ($999k), Cleveland Plumbers Joint Apprenticeship Trust Fund ($999k) and Labors Community Service Agency Inc ($999k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.0% of the total. At year end it held assets of $17.1m against liabilities of $17.6m, net assets of -$500k.

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.