Migdal Bais Yaakov Inc

Analysis

Migdal Bais Yaakov Inc is a registered charity in United States, based in Far Rockaway, NY. It received its IRS tax-exemption ruling in December 2021, 5 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 December 2023, Migdal Bais Yaakov Inc reported income of $1.5m and spending of $1.6m, spending 106% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $194k to $1.5m (+680%), an average of +179% a year. The sharpest change came in the year to December 2022, when income rose by 298%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Migdal Bais Yaakov 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 83rd percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Friends of The@young Audiences Charter Association ($1.5m), Sports Academy Foundation ($1.5m) and Wned Foundation Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. At year end it held assets of $2.5m against liabilities of $2.6m, net assets of -$33k.