New York Academy of Medicine

Analysis

New York Academy of Medicine is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1937, 89 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, New York Academy of Medicine reported income of $19.2m and spending of $13.2m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.9m to $19.2m (+62%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 68%. Over the whole period it spent 106% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, New York Academy of Medicine sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Hendricks Community Hospital Assn & Retirement Home ($19.2m), Overlake Hospital Foundation ($19.2m) and High Plains Mental Health Center Endowment Association Inc ($19.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $2.1m (16% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $66.5m against liabilities of $2.7m, net assets of $63.8m. It reported 130 employees.