4mycity Inc

Analysis

4mycity Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in September 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, 4mycity Inc reported income of $15.9m and spending of $15.9m, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $37.7m to $15.9m (-58%), an average of -25% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, 4mycity Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MD. Charities of a similar size with the same main cause include Midtown Business Association Inc ($15.9m), Inner-City Muslim Action Network ($15.9m) and Career Resources Inc ($15.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $161k. At year end it held assets of $277k against liabilities of $143k, net assets of $134k. It reported 22 employees.

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.