New York Medical College

Analysis

New York Medical College is a registered charity in United States, based in Valhalla, NY. It received its IRS tax-exemption ruling in August 1940, 86 years ago. 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, New York Medical College reported income of $117.9m and spending of $121.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $123.1m to $117.9m (-4.2%), an average of -1.1% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New York Medical College 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 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Lesley University ($117.7m), Gaston Family Health Services Inc ($118.0m) and Goodwill Industries of Central Florida Inc ($117.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.0% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $2.9m (2.4% of expenses). Other salaries and wages came to $55.9m. It paid $180k in professional fundraising fees. At year end it held assets of $328.4m against liabilities of $138.7m, net assets of $189.8m. It reported 995 employees.