Billion Oyster Project

Analysis

Billion Oyster Project is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Billion Oyster Project reported income of $8.3m and spending of $6.2m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $8.3m (+136%), an average of +24% a year. The sharpest change came in the year to June 2023, when income rose by 67%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Billion Oyster Project sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Highville Charter School Inc ($8.3m), Castle Rock Lifelong Learning Center ($8.3m) and Ed Brokers Educational Services ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 5.2% of the total. Compensation of current officers, directors and key employees was $211k (3.4% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $5.2m against liabilities of $228k, net assets of $5.0m. It reported 44 employees.