Civic News Company

Analysis

Civic News Company is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2016, 10 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, Civic News Company reported income of $14.8m and spending of $12.9m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.9m to $14.8m (+115%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Civic News Company sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Delaware State University Foundation Inc ($14.8m), Building Equity Sooner for Tomarrow ($14.8m) and Lake Technical College Inc ($14.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $1.4m (11% of expenses). Other salaries and wages came to $7.5m. It paid $21k in professional fundraising fees. At year end it held assets of $11.2m against liabilities of $1.3m, net assets of $9.9m. It reported 116 employees.