National Institute for Medical Assistant Advancement Inc

Analysis

National Institute for Medical Assistant Advancement Inc is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in July 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, National Institute for Medical Assistant Advancement Inc reported income of $1.5m and spending of $2.2m, spending 142% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $660k to $1.5m (+132%), an average of +23% a year. The sharpest change came in the year to June 2023, when income rose by 108%. Over the whole period it spent 171% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, National Institute for Medical Assistant Advancement Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Nsoro Foundation Inc ($1.5m), Magdalene College Foundation ($1.5m) and National Center for Montessori in the Public Sector ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $272k (12% of expenses). Other salaries and wages came to $911k. At year end it held assets of $853k against liabilities of $5.0m, net assets of -$4.1m. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.