Luria Academy of Brooklyn

Analysis

Luria Academy of Brooklyn is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Luria Academy of Brooklyn reported income of $13.5m and spending of $14.7m, spending 109% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $9.9m to $13.5m (+36%), an average of +8.0% a year. The sharpest change came in the year to August 2021, when income rose by 24%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Luria Academy of Brooklyn sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Braination Inc ($13.5m), Calvin Theological Seminary ($13.5m) and Brooklyn Excelsior Charter School ($13.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 28% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $611k (4.1% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $47.4m against liabilities of $48.7m, net assets of -$1.3m. It reported 145 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.