Inspiring Minds of New York City Inc

Analysis

Inspiring Minds of New York City Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Inspiring Minds of New York City Inc reported income of $1.8m and spending of $1.1m, leaving 40% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $220k to $1.8m (+703%), an average of +100% a year. The sharpest change came in the year to December 2023, when income rose by 250%. Over the whole period it spent 64% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Inspiring Minds of New York City Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Youth Mentoring Partnership ($1.8m), Catholic Youth Organization of the Archdiocese of Indianapolis Inc ($1.8m) and The California 4-H Foundation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $131k (12% of expenses). Other salaries and wages came to $337k. At year end it held assets of $1.4m against liabilities of $314k, net assets of $1.0m. It reported 10 employees.