Project Healthy Minds Corporation

Analysis

Project Healthy Minds Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Project Healthy Minds Corporation reported income of $2.6m and spending of $1.5m, leaving 44% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $226k to $2.6m (+1054%), an average of +126% a year. The sharpest change came in the year to December 2021, when income rose by 1005%. Over the whole period it spent 31% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Project Healthy Minds Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Millennial Music ($2.6m), African Cultural Alliance of North America Inc ($2.6m) and Committee of 100 Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $265k (18% of expenses). Other salaries and wages came to $309k. It paid $172k in professional fundraising fees. At year end it held assets of $4.3m against liabilities of $7,508, net assets of $4.3m. It reported 6 employees.