Amal Academy Inc

Analysis

Amal Academy Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover employment, which this site groups under community and economic 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 June 2023, Amal Academy Inc reported income of $300k and spending of $389k, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $465k to $300k (-36%), an average of -10% a year. The sharpest change came in the year to June 2020, when income rose by 105%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Amal Academy Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Gardere Initiative Inc ($300k), Pompano Beach Rotary Fund Inc ($300k) and Foundation for Duplin County Industrial and Business Developmen ($300k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $55k (14% of expenses). At year end it held assets of $1.3m against liabilities of $100, net assets of $1.3m.