Brooklyn Youth Chorus Academy Inc

Analysis

Brooklyn Youth Chorus Academy Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Brooklyn Youth Chorus Academy Inc reported income of $2.0m and spending of $2.4m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.6m to $2.0m (-26%), an average of -7.3% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brooklyn Youth Chorus Academy Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Uptown Entertainment Alliance ($2.0m), Axelrod Performing Arts Center Inc ($2.0m) and Educational Information Corporation Wcpe Radio ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $326k (14% of expenses). Other salaries and wages came to $1.0m. It paid $30k in professional fundraising fees. At year end it held assets of $4.2m against liabilities of $366k, net assets of $3.8m. It reported 37 employees.