Young Masterminds Initiative

Analysis

Young Masterminds Initiative is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2020, 6 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 December 2023, Young Masterminds Initiative reported income of $299k and spending of $194k, leaving 35% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $45k to $299k (+559%), an average of +87% a year. The sharpest change came in the year to December 2022, when income rose by 181%. Over the whole period it spent 68% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Young Masterminds Initiative sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Morgan Co Fair & 4-H Assn Inc ($299k), The Immanuel Initiative Inc ($299k) and Walltown Childrens Theatre ($299k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $85k (44% of expenses). At year end it held assets of $104k against liabilities of $0, net assets of $104k. It reported 1 employees.