Powermylearning Inc

Analysis

Powermylearning Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Powermylearning Inc reported income of $6.3m and spending of $8.4m, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.6m to $6.3m (-41%), an average of -12% a year. The sharpest change came in the year to June 2022, when income rose by 51%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Powermylearning Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include African American Cultural Center ($6.3m), Alternate Roots Inc ($6.3m) and New Haven Center for Performing Arts Inc ($6.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $891k (11% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $5.9m against liabilities of $779k, net assets of $5.1m. It reported 124 employees.