Lee Academy

Analysis

Lee Academy is a registered charity in United States, based in Lee, ME. It received its IRS tax-exemption ruling in December 1942, 84 years ago. 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, Lee Academy reported income of $3.2m and spending of $2.9m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.9m to $3.2m (-18%), an average of -4.9% a year. The sharpest change came in the year to June 2022, when income rose by 31%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lee Academy sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ME. Charities of a similar size with the same main cause include Minnesota Adoption Resource Network ($3.2m), Zephyr Baptist Encampment ($3.2m) and Big Brothers Big Sisters of Coastal & Northern New Jersey Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $124k (4.2% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $5.2m against liabilities of $323k, net assets of $4.9m. It reported 66 employees.