League of Young Inventors Inc

Analysis

League of Young Inventors Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, League of Young Inventors Inc reported income of $215k and spending of $323k, spending 150% of what it took in. Across the 4 years on record, from August 2020 to August 2023, income fell from $247k to $215k (-13%), an average of -4.6% a year. The sharpest change came in the year to August 2022, when income rose by 87%. Over the whole period it spent 141% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, League of Young Inventors Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Home and School Association of the Borough of Medford Lakes Inc ($215k), Shermont Manor Housing Corporation ($215k) and Chester Springs Library ($215k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Other salaries and wages came to $111k. At year end it held assets of $33k against liabilities of $410k, net assets of -$378k. It reported 1 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.