Myagro Farms

Analysis

Myagro Farms is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2013, 13 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Myagro Farms reported income of $22.6m and spending of $9.0m, leaving 60% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $11.4m to $22.6m (+99%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 519%. Over the whole period it spent 20% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Myagro Farms sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Catholic Social Servies of the Miami Valley ($22.6m), Hardin County Regional Health Center ($22.6m) and Saybrook University ($22.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $1.2m (13% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $138.9m against liabilities of $4.5m, net assets of $134.5m. It reported 29 employees.