Rochester Academy of Medicine

Analysis

Rochester Academy of Medicine is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in January 1941, 85 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Rochester Academy of Medicine reported income of $319k and spending of $338k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $300k to $319k (+6.2%), an average of +1.5% a year. The sharpest change came in the year to December 2021, when income rose by 31%. 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, Rochester Academy of Medicine sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include William F & Mary a Flenniken Public Library ($319k), Wayne Township Education Foundation Inc ($319k) and Chuck Cooper Foundation ($319k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $70k (21% of expenses). Other salaries and wages came to $58k. At year end it held assets of $813k against liabilities of $112k, net assets of $700k. It reported 3 employees.