Herkimer Next Inc

Analysis

Herkimer Next Inc is a registered charity in United States, based in Ilion, NY. It received its IRS tax-exemption ruling in December 2022, 4 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 (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, Herkimer Next Inc reported income of $160k and spending of $87k, leaving 46% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $258 to $160k (+61813%), an average of +61813% a year. The sharpest change came in the year to December 2023, when income rose by 61813%. Over the whole period it spent 54% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Herkimer Next Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Toledo Bar Association Foundation ($159k), Phantoms Charities ($160k) and Henderson Community Foundation ($159k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.2% of the total. At year end it held assets of $73k against liabilities of $0, net assets of $73k.