Foundation for Abilities First Ny

Analysis

Foundation for Abilities First Ny is a registered charity in United States, based in Wappingers Falls, NY. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Foundation for Abilities First Ny reported income of $304k and spending of $344k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $530k to $304k (-43%), an average of -13% a year. The sharpest change came in the year to December 2020, when income dropped by 26%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation for Abilities First Ny sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Eritrean Community Association Inc ($304k), East Valley Properties Inc ($304k) and Urban League of Greater Richmond ($304k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Compensation of current officers, directors and key employees was $128k (37% of expenses). Other salaries and wages came to $22k. At year end it held assets of $516k against liabilities of $162k, net assets of $354k.

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.