Trustees of Thornton Academy

Analysis

Trustees of Thornton Academy is a registered charity in United States, based in Saco, ME. It received its IRS tax-exemption ruling in October 1951, 75 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, Trustees of Thornton Academy reported income of $33.1m and spending of $30.2m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $32.6m to $33.1m (+1.6%), an average of +0.4% a year. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Trustees of Thornton Academy sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include Education Trust Inc ($33.1m), Carlos Rosario International Public Charter School ($33.1m) and Norfolk Academy ($33.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $419k (1.4% of expenses). Other salaries and wages came to $12.1m. At year end it held assets of $59.4m against liabilities of $22.8m, net assets of $36.6m. It reported 282 employees.