Friends of Earl Monroe New Renaissance Basketball Charter SCH

Analysis

Friends of Earl Monroe New Renaissance Basketball Charter SCH is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Earl Monroe New Renaissance Basketball Charter SCH reported income of $799k and spending of $654k, spending 82% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $10.6m to $799k (-92%), an average of -92% a year. The sharpest change came in the year to June 2023, when income dropped by 92%. Over the whole period it spent 7.6% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of Earl Monroe New Renaissance Basketball Charter SCH sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Angelic Organics Learning Center Inc ($799k), Care Connexxus Inc ($799k) and Resourced Inc ($799k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% of the total. At year end it held assets of $12.7m against liabilities of $2.1m, net assets of $10.6m.