Foundation for City College

Analysis

Foundation for City College is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Foundation for City College reported income of $27.9m and spending of $33.7m, spending 121% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $102.7m to $27.9m (-73%), an average of -73% a year. The sharpest change came in the year to June 2023, when income dropped by 73%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for City College 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 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Tampa Preparatory School Inc ($27.9m), Harlem Childrens Zone Promise Academy II Charter School ($27.9m) and Bryan College ($27.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 0.6% of the total. Other salaries and wages came to $2.1m. It paid $422k in professional fundraising fees. At year end it held assets of $359.2m against liabilities of $2.3m, net assets of $356.9m. It reported 144 employees.