The New York Opportunity Network Inc

Analysis

The New York Opportunity Network Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2003, 23 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 August 2023, The New York Opportunity Network Inc reported income of $10.9m and spending of $12.0m, spending 111% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $8.6m to $10.9m (+27%), an average of +6.1% a year. The sharpest change came in the year to August 2021, when income rose by 55%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The New York Opportunity Network Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Epiphany School ($10.9m), Ferguson Library ($10.9m) and National Disability Institute Inc ($10.9m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 92% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $1.2m (9.9% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $9.3m against liabilities of $1.8m, net assets of $7.5m. It reported 74 employees.