Hamaspik School

Analysis

Hamaspik School is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2022, 4 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, Hamaspik School reported income of $7.5m and spending of $12.9m, spending 171% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $3.2m to $7.5m (+131%), an average of +131% a year. The sharpest change came in the year to June 2023, when income rose by 131%. Over the whole period it spent 164% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hamaspik School sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Hartnell College Foundation ($7.5m), University Preparatory Schools ($7.5m) and RR Christian Academy ($7.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 87% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $17.9m against liabilities of $24.8m, net assets of -$6.8m. It reported 82 employees.