New York Zakat Inc

Analysis

New York Zakat Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2023, 3 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, New York Zakat Inc reported income of $320k and spending of $353k, spending 110% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income fell from $385k to $320k (-17%), an average of -8.7% a year. The sharpest change came in the year to December 2021, when income rose by 145%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New York Zakat Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Michael Dunn Foundation ($320k), Stand with Trans ($320k) and Mayday Inc ($320k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $67k. At year end it held assets of $10k against liabilities of $0, net assets of $10k. It reported 1 employees.