Institute for Healing of Memories - North America Inc

Analysis

Institute for Healing of Memories - North America Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Institute for Healing of Memories - North America Inc reported income of $147k and spending of $202k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $226k to $147k (-35%), an average of -10% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Institute for Healing of Memories - North America Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NY. Charities of a similar size with the same main cause include Children Rescue and Rehabilitation Network Inc ($147k), Our Daily Bread ($147k) and Memories for Kids ($147k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $91k (45% of expenses). Other salaries and wages came to $4,600. At year end it held assets of $28k against liabilities of $1,118, net assets of $27k.