Academy of Medicine of Brooklyn Inc

Analysis

Academy of Medicine of Brooklyn Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1960, 66 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Academy of Medicine of Brooklyn Inc reported income of $210k and spending of $54k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $109k to $210k (+93%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 220%. Over the whole period it spent 60% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Academy of Medicine of Brooklyn Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NY. Charities of a similar size with the same main cause include New Michigan Media ($210k), Coptic Educational Foundation ($210k) and Athol High School Scholarship Association ($210k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 11% of the total. At year end it held assets of $2.6m against liabilities of $261k, net assets of $2.4m.