The Trustees of Fryeburg Academy

Analysis

The Trustees of Fryeburg Academy is a registered charity in United States, based in Fryeburg, ME. It received its IRS tax-exemption ruling in January 1939, 87 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, The Trustees of Fryeburg Academy reported income of $21.3m and spending of $21.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.3m to $21.3m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Trustees of Fryeburg Academy sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within ME. Charities of a similar size with the same main cause include Thrive Scholars ($21.3m), Ann Arbor District Library ($21.3m) and Valley Forge Educational Services ($21.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $361k (1.7% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $75.2m against liabilities of $9.6m, net assets of $65.5m. It reported 233 employees.