New York Military Academy

Analysis

New York Military Academy is a registered charity in United States, based in Cornwall HDSN, NY. It received its IRS tax-exemption ruling in December 1947, 79 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 Military Academy reported income of $2.3m and spending of $3.4m, spending 148% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.5m to $2.3m (-49%), an average of -16% a year. The sharpest change came in the year to June 2022, when income dropped by 40%. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New York Military Academy sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Northern Essex Community College Foundation Inc ($2.3m), Ballistic United Soccer Club Inc ($2.3m) and Duluth Bethel Society ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $150k (4.5% of expenses). At year end it held assets of $2.0m against liabilities of $7.8m, net assets of -$5.8m. It reported 44 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.