Chabad of Iceland Inc

Analysis

Chabad of Iceland Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Chabad of Iceland Inc reported income of $854k and spending of $200k, leaving 77% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $601k to $854k (+42%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 47%. Over the whole period it spent 27% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Chabad of Iceland Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Ananda Mandir Inc ($854k), The Maryland Jewish Experience Inc ($854k) and Nyingma Institute ($854k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.