Pratt Institute

Analysis

Pratt Institute is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1935, 91 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 June 2023, Pratt Institute reported income of $337.7m and spending of $322.6m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $296.4m to $337.7m (+14%), an average of +3.3% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Pratt Institute 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 100th percentile within NY. Charities of a similar size with the same main cause include Marist University ($333.0m), Suffolk University ($339.0m) and Xavier University ($332.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.9% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.8m (0.5% of expenses). Other salaries and wages came to $118.6m. At year end it held assets of $748.0m against liabilities of $203.3m, net assets of $544.7m. It reported 4,298 employees.