Medical Letter Inc

Analysis

Medical Letter Inc is a registered charity in United States, based in Larchmont, NY. It received its IRS tax-exemption ruling in July 1961, 65 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Medical Letter Inc reported income of $4.3m and spending of $4.4m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.7m to $4.3m (-7.2%), an average of -1.9% a year. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Medical Letter Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Art 21 Inc ($4.3m), Genesee Country Museum ($4.3m) and Center for Puppetry Arts Inc ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $737k (17% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $4.5m against liabilities of $3.5m, net assets of $940k. It reported 22 employees.