Brooklyn Independent

Analysis

Brooklyn Independent is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2019, 7 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, Brooklyn Independent reported income of $2.1m and spending of $2.4m, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $688k to $2.1m (+211%), an average of +46% a year. The sharpest change came in the year to June 2022, when income rose by 104%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Brooklyn Independent sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Hartford Promise Inc ($2.1m), Buckley Institute Inc ($2.1m) and Texas Childrens Womens Specialists ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $275k (11% of expenses). Other salaries and wages came to $884k. At year end it held assets of $1.4m against liabilities of $1.8m, net assets of -$474k. It reported 13 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.