Biotechnology Incubator at Nymc Inc

Analysis

Biotechnology Incubator at Nymc Inc is a registered charity in United States, based in Valhalla, NY. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Biotechnology Incubator at Nymc Inc reported income of $389k and spending of $167k, leaving 57% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $750k to $389k (-48%), an average of -15% a year. The sharpest change came in the year to June 2021, when income rose by 74%. Over the whole period it spent 36% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Biotechnology Incubator at Nymc Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Carroll Technology Council Inc ($389k), Grow Benzie Inc ($389k) and Community Foundation of Ellis ($389k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. Other salaries and wages came to $94k. At year end it held assets of $2.0m against liabilities of $21k, net assets of $1.9m.