New York Memory Center Inc

Analysis

New York Memory Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1985, 41 years ago. 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, New York Memory Center Inc reported income of $527k and spending of $460k, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $527k (-54%), an average of -18% a year. The sharpest change came in the year to June 2021, when income dropped by 46%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New York Memory Center Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include STM Elderly Housing Corp ($527k), Windsor Locks Public Library Inc ($527k) and Laurel Civic Association Inc ($527k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $205k. At year end it held assets of $647k against liabilities of $388k, net assets of $260k. It reported 10 employees.