Lincoln Academy

Analysis

Lincoln Academy is a registered charity in United States, based in Newcastle, ME. It received its IRS tax-exemption ruling in November 1964, 62 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, Lincoln Academy reported income of $10.8m and spending of $12.3m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $12.4m to $10.8m (-13%), an average of -3.4% a year. The sharpest change came in the year to June 2021, when income rose by 65%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lincoln Academy sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within ME. Charities of a similar size with the same main cause include Mastery Charter School - Mann Elementary ($10.8m), Woodlynde School Corp ($10.8m) and Personalized Learning Inc ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $350k (2.8% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $25.8m against liabilities of $10.0m, net assets of $15.8m. It reported 180 employees.