New York Seminary Inc

Analysis

New York Seminary Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2014, 12 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, New York Seminary Inc reported income of $1.6m and spending of $1.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $1.6m (+17%), an average of +4.1% a year. The sharpest change came in the year to June 2021, when income rose by 27%. 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, New York Seminary Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Divine Mercy Academy Incorporated ($1.6m), Project Beetroot ($1.6m) and LA Tierra Community School Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $312k (19% of expenses). Other salaries and wages came to $428k. At year end it held assets of $1.1m against liabilities of $616k, net assets of $474k. It reported 39 employees.