New York Academy of Art

Analysis

New York Academy of Art is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1992, 34 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 Academy of Art reported income of $9.2m and spending of $9.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.9m to $9.2m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New York Academy of Art 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 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Hospital Industry Data Institute ($9.2m), Desert Christian Academy ($9.2m) and Christian Heritage Academy ($9.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $912k (9.9% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $18.3m against liabilities of $7.1m, net assets of $11.2m. It reported 187 employees.