Broome Street Academy

Analysis

Broome Street Academy is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2011, 15 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, Broome Street Academy reported income of $7.7m and spending of $8.1m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.7m to $7.7m (+16%), an average of +3.7% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Broome Street Academy 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 Brooklyn Kindergarten Society ($7.7m), Chicago City Day School ($7.7m) and Wasc Senior College and University Commission ($7.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $188k (2.3% of expenses). Other salaries and wages came to $4.3m. At year end it held assets of $3.9m against liabilities of $802k, net assets of $3.1m. It reported 81 employees.