Elmira College

Analysis

Elmira College is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in March 1942, 84 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 June 2023, Elmira College reported income of $39.3m and spending of $43.3m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $47.3m to $39.3m (-17%), an average of -4.5% a year. The sharpest change came in the year to June 2021, when income dropped by 15%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elmira College sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Distributive Education Clubs of America Group Return ($39.3m), Chicago School of Professional Psychology Inc ($39.3m) and Plato Academy Schools Corporation ($39.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $762k (1.8% of expenses). Other salaries and wages came to $11.6m. At year end it held assets of $105.4m against liabilities of $11.6m, net assets of $93.8m. It reported 335 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.