Northbay Education Inc

Analysis

Northbay Education Inc is a registered charity in United States, based in North East, MD. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Northbay Education Inc reported income of $8.1m and spending of $9.7m, spending 120% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income grew from $7.4m to $8.1m (+10.0%), an average of +10% a year. Over the whole period it spent 115% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Northbay Education Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include Foundation for Research ($8.1m), Upmc and the Washington Hospital Cancer Center ($8.1m) and Masonic Medical Research Laboratory ($8.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 31% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $199k (2.0% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $26.1m against liabilities of $1.2m, net assets of $24.9m. It reported 181 employees.