Research Corporation of Long Island Inc

Analysis

Research Corporation of Long Island Inc is a registered charity in United States, based in Kings Park, NY. It received its IRS tax-exemption ruling in April 1992, 34 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Research Corporation of Long Island Inc reported income of $161k and spending of $268k, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $304k to $161k (-47%), an average of -15% a year. The sharpest change came in the year to December 2021, when income dropped by 32%. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Research Corporation of Long Island Inc sits at the 48th percentile: it is larger than about 48% 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 Laguna Ballet ($161k), Atlas for Life Ltd ($161k) and Goose Rocks Beach Association Inc ($161k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 1.9% of the total. Other salaries and wages came to $148k. At year end it held assets of $357k against liabilities of $3,340, net assets of $354k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.