Academy of Mdy Inc

Analysis

Academy of Mdy Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Academy of Mdy Inc reported income of $3.6m and spending of $3.5m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.4m to $3.6m (+46%), an average of +10% a year. The sharpest change came in the year to August 2022, when income rose by 53042%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Academy of Mdy Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Plumbing and Pipefitting Educational Program ($3.6m), Greater Etowah Mental Retardation 310 Board Inc ($3.6m) and New Key School Inc ($3.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $424k against liabilities of $7,004, net assets of $417k.