BMCC Foundation Inc

Analysis

BMCC Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1976, 50 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, BMCC Foundation Inc reported income of $3.3m and spending of $2.8m, spending 85% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.0m to $3.3m (+61%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 200%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, BMCC Foundation Inc sits at the 91st percentile: it is larger than about 90% 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 United Way of Southwest Alabama Inc ($3.3m), Legacy Properties of the Community Foundation of Hancock County Inc ($3.3m) and Imamia Medics International Inc ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $27.0m against liabilities of $14.2m, net assets of $12.8m.