Ace Mentor Program of Greater New York Inc

Analysis

Ace Mentor Program of Greater New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Ace Mentor Program of Greater New York Inc reported income of $664k and spending of $737k, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $657k to $664k (+1.0%), an average of +0.3% a year. The sharpest change came in the year to June 2020, when income dropped by 38%. Over the whole period it spent 123% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ace Mentor Program of Greater New York Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include The North American Foundation for the University of Durham Inc ($664k), Achievement Rewards for College Scientists Foundation Inc Oregon ($664k) and Newton High Peak Inc ($664k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $137k (19% of expenses). Other salaries and wages came to $166k. At year end it held assets of $491k against liabilities of $1,780, net assets of $489k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.