Banner Northlake Therapeutic Inc

Analysis

Banner Northlake Therapeutic Inc is a registered charity in United States, based in Boca Raton, FL. It received its IRS tax-exemption ruling in November 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 December 2023, Banner Northlake Therapeutic Inc reported income of $2.1m and spending of $2.2m, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $362k to $2.1m (+494%), an average of +494% a year. The sharpest change came in the year to December 2023, when income rose by 494%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Banner Northlake Therapeutic Inc 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 87th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include DJB Technical Academy ($2.1m), Tennessee Independent Colleges and Universities ($2.1m) and Capital Collegiate Preparatory Academy Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $224k (10% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $601k against liabilities of $721k, net assets of -$120k.