Trustees of Bloomfield Academy

Analysis

Trustees of Bloomfield Academy is a registered charity in United States, based in Skowhegan, ME. It received its IRS tax-exemption ruling in January 1940, 86 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 January 2024, Trustees of Bloomfield Academy reported income of $501k and spending of $343k, leaving 31% of income unspent that year. Across the 5 years on record, from January 2020 to January 2024, income grew from $321k to $501k (+56%), an average of +12% a year. The sharpest change came in the year to January 2022, when income rose by 51%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Trustees of Bloomfield Academy sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within ME. Charities of a similar size with the same main cause include Bronx School for Music Inc ($501k), Kernstown Battlefield Association Inc ($501k) and Bi-Okoto Drum & Dance Theatre ($501k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 66% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $4,579 (1.3% of expenses). Other salaries and wages came to $189k. At year end it held assets of $2.4m against liabilities of $0, net assets of $2.4m. It reported 8 employees.