Mayday Medicines Inc

Analysis

Mayday Medicines Inc is a registered charity in United States, based in Manhattan, NY. It received its IRS tax-exemption ruling in November 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Mayday Medicines Inc reported income of $2.1m and spending of $1.9m, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $2.8m to $2.1m (-25%), an average of -25% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. Over the whole period it spent 48% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mayday Medicines Inc 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 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Meriwether Health Properties Inc ($2.1m), The Gardner Group Inc ($2.1m) and Peacock Acres Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $511k. It paid $18k in professional fundraising fees. At year end it held assets of $2.5m against liabilities of $16k, net assets of $2.5m. It reported 5 employees.