Friends of Academy of the City Inc

Analysis

Friends of Academy of the City Inc is a registered charity in United States, based in Woodside, NY. It received its IRS tax-exemption ruling in March 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 June 2023, Friends of Academy of the City Inc reported income of $1.5m and spending of $1.5m, spending 99% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $564k to $1.5m (+172%), an average of +65% a year. The sharpest change came in the year to June 2022, when income rose by 192%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Academy of the City 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 80th percentile within NY. Charities of a similar size with the same main cause include Einstrong Foundation ($1.5m), Great Expectations Foundation ($1.5m) and Bethany Community School Foundation Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.5% and program service revenue 18% of the total. Other salaries and wages came to $185k. At year end it held assets of $24.5m against liabilities of $22.7m, net assets of $1.7m.