Gemara Academy Inc

Analysis

Gemara Academy Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Gemara Academy Inc reported income of $108k and spending of $157k, spending 145% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $244k to $108k (-56%), an average of -18% a year. The sharpest change came in the year to December 2021, when income dropped by 30%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gemara Academy Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 38th percentile within NY. Charities of a similar size with the same main cause include Little League Baseball Inc ($108k), New Jersey Association of Student Financial Aid Administrators Inc ($108k) and Volunteers of America Inc ($108k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $54k. At year end it held assets of -$82k against liabilities of $0, net assets of -$82k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.