Culinary Institute of America

Analysis

Culinary Institute of America is a registered charity in United States, based in Hyde Park, NY. It received its IRS tax-exemption ruling in June 1955, 71 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Culinary Institute of America reported income of $225.8m and spending of $209.6m, spending 93% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $190.1m to $225.8m (+19%), an average of +4.4% a year. The sharpest change came in the year to May 2023, when income rose by 28%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Culinary Institute of America sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Lincoln Memorial University ($225.1m), Indiana Wesleyan University ($226.0m) and Simmons University ($225.0m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $3.7m (1.8% of expenses). Other salaries and wages came to $49.6m. At year end it held assets of $519.6m against liabilities of $172.3m, net assets of $347.3m. It reported 1,078 employees.